One problem you didn't cover was Canadian geography. To get Canadian oil to a port you have to cross the Rockies if you go west or the Precambrian Shield if you go east. Going north is fairly easy, but the port would only be ice free a couple of months of the year. The best route is actually south to the Texas coast which is what the Keystone XL pipeline was going to do until Biden killed it.
There is a pipeline going to BC (been there since 1953). The east voted against it. Being from one of the provinces, we don't understand the need to have oil. We have excess production of electricity (no solar, no nuclear, no gas, no coal power here), we can't wait to have more reliable electric cars against the cold.
@@ronblack7870 Never said I was from Ontario but Canada doesn't stop in Ontario there's quite a few more provinces past that one. The pipeline does make it to Ontario but not passed that point.
Canadian here, living only 150km from Alaska. Here in Prince Rupert our Port never freezes more than a few weeks of the year and we have multiple exports already and over 1000 dock workers we could handle a pipeline here and also our neighbor in Kitimat BC
true and the trans mountain pipeline is being expanded now. delivered some of the pipes my self. also wrong about wages in oilfield here. we dont get paid by the hour its by the day in at most companies and its 100g a year to start. 75g a year is only like 25hr
Yeah, not really taking into account pushback from the local indigenous too. Their opinion is important in this conversation too because the plans were designed to use their traditional territory. Some are for it and others are against it but there’s been lots of protests against it
I like where this guys head is at, but to say that majority of Canadians are happy is so disconnected with reality. This country has gone through the ringer. Can barely get a doctor to see you. Free health care? ROFL. Okay, good luck getting seen
@@bknighty28 Worst part is we have plenty of doctors to fix the shortage, but the government limits how many licensed doctors can be working at any one time in the country so we get 8 hour wait times off literally just the stupidity of politicians
@@bknighty28 Dont tell the rest of the world, they are in denial about it. Ive been waiting 10 months to see a dermatologist, and I still dont actually have an appointment LOL
The problem in my Canadian opinion is there isn’t enough cooperation between provinces and governments. Seems like it’s always an us vs them battle. There are many special interests groups lobbying for or against oil distribution networks. Modern pipelines can’t get built because too much opposition despite it being the most economical and environmentally friendly method of moving oil over Canadas vast distances. When infrastructure is approved, it tends to be extremely costly as the distances are vast, we have stringent environmental protections, and our construction costs are very high compared to a places like Russia, China, Golf States or Angola. Once oil reaches the west coast then you need to ship it through environmentally sensitive tight coastal water ways. Like many things in Canada, vast geography, political polarization, trying to compete against third world economies with less regulatory oversight and slow governance hold us back.
Has a Canadian, I say keep the oil where it is. Environmental issues should not be overlooked for money in short terms. If something bad happens, we take it out in 20 or 100 years at much higher price.
But also oil itself in Canada is a special interest group. It's privately owned and privately operated, for private profits. You can't expect the entire country to band together so Suncor or Enbridge's CEOs get bigger paycheques. True that they pay taxes like everyone else, but from a national standpoint, this is the only benefit most places outside of Alberta will see.
@@magnang yes but it is taxed and a major revenue stream for western provinces and the feds. Alberta had no debt for 45 years and now just paid off the very high NDP incurred debt pretty much entirely using oil revenue.
@@magnang Transfer payments ensures the entire Confederation is benefited by Canadian energy profits. I agree Suncor and Enbridge sucks; but those companies are made up of tens of thousands of Canadians. Many of whom moved from other provinces.
I believe you are confusing crude oil sales with refined product sales -- a barrel of crude oil can produce many different things from engine oil to gas to chemicals depending on how its distilled and mixed in the refining process -- refined oil 30$ a barrel is probably profitable but selling crude direct it may require 100+ $ a barrel for it to be worth while.
@@DotADBX no you seem confused . refined products cost more than crude. suncor can break even at 30 dollars a barrel crude oil price. they are selling crude oil . for instance now hydraulic oil is 6 / gallon in u.s. so 240 a barrel.
Canada should at least take the Norwegian model. Create a massive fund. Even if Canada wanted to export more oil they’d have a hard time. They’re very strict with environmental laws, British Colombia would probably ban new pipelines coming in from Alberta.
As a Canadian BC should not be allowed to sabotage the entire country's oil industry. I'm not from Alberta but if China is buying oil then we should be the ones to sell it, not the middle east! Our country's leaders are fools.
I’m a double citizen (US and Canada), and I think this - along with the fact that Alberta is now the only province which is a net federal tax payer - is one of the main reasons Alberta will eventually leave confederation and seek statehood. Likewise, Alberta is arguably more culturally and politically similar to the US than it is to the east and BC.
@@syjiang 99% of all Canadian oil is sent to the USA then some is brought back to Canada for purchase. But there is no guarantee that the Canadian Crude oil that is refined there will be sent back to Canada.If the oil was extracted and refined within Canada than that would be Canadian oil.
"alberta probably has less working hours per week than Saudi Arabia"... thats cute, im a Canadian oil and gas worker and its not uncommon to do 200 hours in a pay period... my longest shift I've ever worked was 36 hours non stop, no joke. I work in a oil town, average age is 24 and average salary is about $110k/year, I just think your aspect on that is a little under represented. How little we exploit our oil and gas reserves tussles my feathers, and much of western canadas, especially considering how ethical and environmentally conscious our oil and gas industry is compared to most global exporters. We are a world leader leader really in this front. If we are being pragmatic and want to reduce our carbon footprint but understand we can't just simply stop our oil dependency without going back to the dark ages, then the world should be using more canadian oil, as much of our opposition dont even come close to our standards, for example we have some of the strictest reclamation laws in the world. Basically using Canadian oil over other countries oil would drastically reduce the global carbon footprint in energy production. I will also like to note you keep mentioning oil sands, implying thats all of our reserves or most of. Oil sands are found in the Fort Mac area almost exclusively, pretty much every other reserve we have is in deep wells and shale formations (same as other oil exporters, for example the USA)and has nothing to do with oil sands, instead oil sands is just one of our large reserves (granted very large)
One of Canada's big exports is technical consulting labor. Canadian engineers, geologists and geophysicists travel the world improving the standards of projects everywhere bringing their big $$$ consulting fees back to Canadian bank accounts.
@@theuniverse2713 you're missing the point im making, and I am speaking from personal experience as I've been an oil and gas worker for over 6 years, as well my brother is a major consultant for a very large Canadian pipeline company. To my knowledge canada has the lowest risk to oil spills because of what is required by our standards and law to drill and push oil and gas down stream in this country. Yes this means it is more expensive, but at the same time it produces the lowest risk of spillage compared to other global exporters including the USA. I've worked with engineers who do this in Texas and you'd be baffled on what they allow to happen to move oil and gas down there (for example I've heard stories where they'd create a trench and flow oil and gas for dozens of kilometers for a truck to suck up at the other end because the trucks can't access the site directly) very few people come close to our standards. There is a risk of spillage anywhere in the world because you can never 100% guarantee non accidents in any industry, but the reward risk factor is to great to pass up. I will also like to point out Canadian pipelines are bar none way more environmentally concious and safer than the current mode of transporting oil and gas, I.e disiel trains, trucks etc. Forgetting the emissions from the machines that move them, there is alot more spillage that come from rolled over trucks and derailed trains then any of our pipeline leakage because there is no human factor in pipelines, just simple engineering, that goes under strenuous testing and monitoring in this country. As far as drill pipe and casing down hole, in modern drilling, fracking etc, there is hardly any risk of ground contamination (again nothing is guaranteed ever in life) because of the requirements for the amount of protective casing and cementing to protect the earth and water tables. Environmentalists wrongly compare Canadian fracking and drilling to incidents in the USA, again we are a completely different country with much more stricter regulations, meaning we don't create the same risk of contamination or ground tremors. Point being Canadian oil gas has the smallest environmental impact in the world for oil and gas exploration for many reasons. I.e pipeline standards, down hole protective casing and cementing, very strict spillage protection and clean up, and probably the strictest reclamation laws in the world, which means an oil company is required by law to return the leased land back to the original state or better than they found it once a well site has been abandoned.
Yeah it is a tough call for sure. I do feel Canadian oil is among the best in the world (ethically and environmentally anyways). And pipelines are the best way to move oil & gas (environmentally and economically). But we need to resist all petroleum used as fossil fuels globally to stop the harm to the planet. (There are many other uses for oil & gas other than as fuel, some are potentially good for the environment in some ways so I am not saying all petroleum should stop. Just stop burning the stuff which will greatly reduce demand for petroleum and cause a massive industry adjustment). So do we promote and facilitate Canadian petroleum through pipelines to export hubs or not? Cause we do want any future use of petroleum to be Canadian petroleum, but we also want to massively cut demand at the same time by eliminating its use as a fuel. So it is a tough call to support Canadian oil exports or not (Environmentally and ethically).
One issue is that British Columbia really does not like having oil tankers transit through its coastal areas. There is actually a ban on tankers along most of the coast post- Exxon Valdez
Its not an issue if its solves a problem: Can't have oil spills if there are no oil tankers. That coastline is far more important then the need to have trucks and RV's. We don't need larger landfills.
They have lots of cruise ships sailing by so its not about the environment. Lots of BC politicians are paid by US companies to damage the Canadian oil industry.
I can understand their position tbf, the vancouver bay area doesn't exactly have the best, water flow, everything flows into it, not really out, so an oil spill in the bay would destroy the bay for potentially years.
@@GargamelSS the united states can do what they want, we don’t need that junk up here there are enough huge barges all over the bay/inlet we don’t need to add tankers to the mix. If you don’t live here your opinion is just speculation.
The reality is american companies constantly block pipeline growth of canadian oil to american refineries (which would result in cheaper oil for everyone) through expensive lobbying of politicians and bad-faith environmentalism in order to protect the hold they have on their domestic market. Has very little to do with wether there are companies in canada willing to drill the oil (there are plenty) when they have no easy channels to sell it in bulk.
Not American companies, but the American government (especially biden, obama and the majority of democrats) which are obsessed with pushing electric cars, windmills, and solar panels.
Not American companies, but the American government (especially biden, obama and the majority of democrats) which are obsessed with pushing electric cars, windmills, and solar panels.
It probably wouldn’t though. Full cycle US production costs (mostly shale) are now only about half of Canadian production costs. If anything, Canada will become a net oil importer vis-a-vis the US in the future. As the video notes, Canada needs nearly US$100/bbl oil to produce profitably, while US shale breakeven is below $50. And because the extremist greenie nuts in Vancouver won’t allow any pipelines to be built to the pacific, this effectively gives the US a monopsony (single buyer market power; the mirror of monopoly but on the demand side) on Canadian oil.
Canada is the third largest oil exporter in the world. The conclusion and title of the video are factually wrong. Canada does exploit it's oil reserves fairly aggressively despite all the technical issues. At the same time, the video does cover many of the aspects of the Canadian oil sands industry. In my view the primary reason that Canada doesn't export to Asia, or even permit significant Asian participation in the oil and gas industry is long term policies in Canada and the US for energy security. There is a "silent" tendency in trade, business and government to keep the Canadian resource for North America only. As every Canadian and Mexican knows, what the USA wants, the USA usually gets. When I worked on offshore projects a "spill" was anything more than a gallon. More oil is spilled by DIY mechanics in any major city in the world that is spilled by the oil industry in Canada most years. But when the oil industry has a big spill, it can be spectacular. This is the nature of any large industrial process. The environmental issues in Canada would be (and are) quickly swept aside if there was any serious impediment to US energy supply.
Yeah that's why we've been trying to sell our electricity surplus but they have imposed a tariff restriction (lower prices just like our oil) on us and their largest City (NYC) is screaming after the federal government for their interference in this "deal" as we just turned them down (a few months ago).
them thinking that Venezuela didn't exploit their oil supply because they were corrupt also pains me. they exploited their oil supply and as a result became corrupt.
Canada DOES have liquid oil!! I personally know people who work on the oil fields working on "traditional" extraction methods. The thing is there is more oil in the tar sands, and like the video explained it is harder and more expensive to extract. But when the price is lower we are STILL pumping huge amounts of oil out of the ground
Keep in mind that conventional made up ~80% of Alberta's oil production with oilsands (mostly strip mining) made up the remaining ~20% around the turn of the century. Now those figures are flipped largely due to automation and tech advances so any type of modern in-situ oilsands is typically far cheaper per barrel all said - and that's saying a lot considering it's ~2-4x more CO2 intensive and we have a escalating carbon tax factored into that. Conventional oil basins age out way faster and they typically end up relying on "water flooding" aka 90%+ water of the total pumped mixture (this automation also explains mass job loss in the industry over that time).
As far as working hours: In Alberta, people working in oil work minimum 40-44 hours per week which is the standard. A lot of people in labouring positions work 40-60 hours a week. Some people working 7 days a week 12.5 hours, which is the standard full overtime week are doing 87.5 hours per week. If people are pulling in 16 hour shifts it can be over 90.
the standard is 12 hours, or more. Hardly no one works 8 hours unless it is a warehouse job. As well being on call 24/7 with very little for time off requests
Two things to consider 1- Just because people work a lot by Canadian standards doesn't mean it's a lot by standards in countries with little to no labour laws. 2- Alberta gets OT pay once someone clocks over 44 hrs a week- Which is probably a much better deal that what most ME countries have. I know Alberta has this weird victim mentality thinking it works the hardest and gets shafted the most in its provincial culture- But it greater context, Alberta as far as oil producing areas in the world go have it pretty good.
Also, keep in mind, due to stringent rules and regulations, any petrochemical spill over 20 litres is considered a 'spill'. So if a rookie leasehand accidentally knocks over a pail of varsol while they are cleaning, it's logged as a spill.
Canada needs to stop importing oil and start using what we produce for domestic needs. Importing oil to eastern Canada and refining Canadian oil in the USA only to import it back into BC does little for our economy. This was Germany's plan for the last 20 years and now it's all falling apart due to the war in eastern europe. You need to address your own needs first to safeguard your own future. After that control your exports to balance your imports with excess oil production. The remainder of the economy will provide for the economic growth as oil becomes less important as an energy source for the movement of people and the transport of goods.
@@StinkPickle4000 it's the best thing we had to do. There is more CO2 emissions and negativ environmental impact with petroleum from Alberta than Algeria. In Quebec, our natural ressources is water and we won't scrap it so Alberta can export it's dirty oil 😊
For a bit more context, the province blocking pipelines to the Pacific is BC, the origin of Greenpeace and generally really environmentally conscious. There have been a number of cases of industrial sabotage by environmental group on energy projects in BC. It's also rugged terrain with little access for large swaths of territory making it expensive to build and challenging to deal with pipeline leaks. The other possibly bigger issue is the drastically increased oil tanker traffic on coast, which is notoriously difficult to navigate. That being said the TMX upgrade is 100% happening and has been under construction for years. But any new pipeline is virtually impossible. It seems very unlikely that a BC government will ever agree to it. There is no real upside for BC and so much to lose.
It's not really the BC government. The big thing blocking it is native bands with claims on the land the pipeline is supposed to go over. Some of them are doing great work spearheading legitimate environmental concerns that've been completely ignored, and some are blocking it because the federal government still seems to think that small town northern politics happens in good faith,and they're taking full advantage of it. The provincial government has pretty much no sway in how these things go at this point.
@@BodohYono the federal government bought the pipeline so they could force is through massively over budget, and they're probably gonna sell it for a loss, losing us money, subsidizing an oil company in the process, and none of the money will go to anything green.
@@BodohYono yup, and that's why the original financiers pulled out and the government and taxpayers are footing the bill instead. Yet Albertans are still pissed like a bunch of whiney babies.
3:36 minimum wage is 48k riyal = 12800$ but aramco entry level package roughly starts around 108,000 riyal = 28800$ it's considered very good as an entry level career since the cost of living is much lower than canada and US
He is a west dog who only wants to propagate the west's holier-than-thou crap. Or else they have nothing, even their societies are dysfunctional. They need God
@@frodo.2nd low skilled low income migrant workers work typically in the privet sector for mainly service jobs , Aramco is employee are %90 Saudi and the other %10 are highly skilled highly paid expats , my whole household works in Aramco , you’re misinformed unfortunately.
aramco only hire saudis because they the most experienced & highly skilled and educated and they receive 35000 - 40000$ yearly it's well known for saudis that they get paid very well.
@@frodo.2nd nope oil industry require high skilled employees to maximise the profit, south asians are well known to be cheap low skilled labor which won't come in handy for giantic advanced company like Aramco! they only hire saudis because they are highly skilled in administration & oil extraction as well as petrochemicals 95% or more of Saudi Aramco are Saudi citzens.
@@hightechredneck8587 Alberta wants to separate ever-time they lose an election. We live in a fucking democracy. Only children cry when they don't get what they want.
I can see why they wouldn't!! Lots of moving parts of the world and they don't want to risk losing all of their resources by selling them to other countries!!
3:47 what you said about wages in Saudi Arabia is completely wrong, you have to take into account the cost of living, taxes, etc. in Saudi Arabia which is significantly cheaper than Canada. The second thing is that most people in Saudi Arabia do not actually work in the oil sector, The oil sector pays a premium as it requires specialized workers. This makes cities like Dhahran (Aramco HQ) one of the highest earning cities per capita in the world.
@@mohammadfatahillah8290 It really doesn't :p Don't assume propaganda where simple mistakes can easily explain the error. Also, people buying oil aren't going to pay more for Canadian oil just because their cost of living is higher. It doesn't make your oil any more competitive. It's great for Arabian workers, but that's it. The argument that Canadian oil is less competitive because of high labor costs still stands. Aramco can take petrodollars and pay a smaller share to workers, keeping more for profits and investments
@@Ramschat i can say in kuwait where i live the starting salary for oil is about 60k we dont have taxes so u will get the full amount if you worked for 20 years you can expect to get up to 200k a year
This video has done some great work on showing how Canada can become a more important player in the oil industry globally. One minor correction, for producers in Canada, break-even is NOT $100/barrel (either US or CAD). It's evident in many producer's financial reports that are publicly traded. Also the "discount" is not something agreed to by US/CAN, this discount changes over time and again due to the fact that the oil is still slightly different from WTI. What they're referring to is WCS crude pricing.
Currently working oil sands as a mechanic. The price per barrel that keeps my job is $60. Anything more than that usually results in OT being wide open and extra bonus pay like LOA and retention bonus. Any less than $60 a barrel and you are more than likely looking for work elsewhere unless you work for site.(Suncor, Imperial, CNRL, etc)
@@Braviary01 WTI? I know of newer highly automated in-situ sites that are in the range of $20 break-even or less but I suspect that's WCS heavy and not WTI
Wrong. Suncor produces for around $15 a barrel. We just don't have the boom we used to because $100/bbl is top much profit to sit idle. Since 2015, the companies have gotten much better at lean production. Anyone who told you $60 was incorrect.
It's higher then 100$. The only way its profitable right now is because we don't force them to clean up the mess they make. The largest toxic lake in the world is in Alberta. It's only one of the hundreds of ponds the oil industry has created. They don't even know how to clean it up.
As a Canadian who works in the oil sands; politics play a huge role, pipelines end up waiting for approvals from politicians. Quebec’s mayor held up a pipeline that would’ve brought oil to the east coast of Canada, now the east coast gets oil from the Saudis.
@@unqueb sorry, should've been specific. When I say the East coast, I mean the maritimes, which import from the middle east and Africa. The Irving refineries in the maritimes were willing to process oil sands and invest in the equipment if the country could build pipeline to the East coast, it never happened.
Importing from the US doesn't make sense either since we have larger reserves and proven technology to process Canadian Oil. Suncor's largest refinery is in Montreal, I'm sure they would love to process their own crude from Alberta.
The US want Canada to not export their oil to the rest of the world because having the Canadian oil for themselves, is an energy security issue. Also, it's cheaper if it's not exported.
Canada not overly relying on its natural resources is a good long-term play. Otherwise, it's entirely dependent on commodities and more reflective of a third world country, not a modern service based economy.
The thing with canadian tar-sands oil is it's operated mostly like a mine.. So while the initial costs to develop the mining project are very high, the extraction itself is more modulable compared to conventional pumps. When the price of oil drops too much, you can just stop extracting the sand, reduce production, lay off some workers and rehire them when conditions get better. This way the project becomes extremely economicaly viable as it is way less exposed to volatile pricing than conventional oil. when you look on the longer run say 40-50 years, production costs management will make the resource waaaay more profitable than when you look just on a short timeframe of oil prices for any given year. IMO this is the main reason why Canada doesn't produce that much oil : Because it can afford to wait to produce it only when the time is right.
Canadian oil sand is only profitable because we don't ask company to clean up the mess. The industry itself estimate the cost of cleaning up the current ponds at 100 billions. The government estimate it would be over 200 billions. They fist need to figure out how to extract without creating this mess and than maybe they could think about growing.
Wildlife photographer Amber Arbucci takes Jay Leno for a ride in a Bollinger Prototype. This electric, ultra-modern vehicle is ideal for taking pictures of wildlife. Catch the clip and don’t miss “Jay Leno’s Garage: Off-Road Adventures” Wednesdays at 10P ET on CNBC. Amber Arbucci and Jay Leno Off-Road in a Bollinger Prototype | Jay Leno's Garage ruclips.net/video/923VS-bUn3I/видео.html Mullen + Bollinger (with history) - BOLLINGER MOTORS ruclips.net/video/HFb4h7izuZo/видео.html Mullen stock - 7 Catalysts (muln stock news) ruclips.net/video/62MQ7C09YLM/видео.html
The onlything stopping my country from beeing oil rich is the government. In the 1970s in Alaska, the USA built a road into the middle of Alaska, hundreds of miles from any town through insade and freezing cold conditions so oil companies could drill for oil. On the first road it took truckers nearly a whole month to just arrive at the location so they could begin building the oil rigs. Highway from hell TV show is the second road they built and that is stilled used to this day. Bs it's our geography, Alaska is as harsh as anything we have here in Canada
Love the pindrop silence at every segment of the video... gives me chills hehe good video+topic.. .keep it up brother and take care of your health as well.....Cheers to many more vids
3:36 The 36,000 so called average laborer salary was based on (1) salary only😂🤦🏽♂️ Not to mention that Aramco typically pays like 5 times more than the national average. I personally received a job offer from Aramco as entry level graphic designer, and the offer was around 96k usd, plus buying me a house and financing it to me interest free, healthcare insurance for me and family, transportation allowance, paying for my children private school if I had any, and many more benefits that I don’t remember.
True if the worker is European or North American but if you come from Asia your salary is very low. As they pay based on passport (nationality) and not based on position. And it's not like there is a union to protect the workers either. As you work in the "office" got on the ground and go talk to Filipinos, Indonesians or even Indian workers and ask their salary. Then you can pass comment on the "real" realities, What you are paid is not what the majority is being paid.
@@robert-antoinedenault5901 bro chill out, first I’m Saudi not Europen. Second, you’re missing the point on how generally Salaries are paid in Saudi Arabia. Since Expats come to Saudi for work only, not as immigrants that settle, They get paid based on how much they used to get paid back home, the money would be a lot for them when they go back home. Globally speaking, Salaries for the same position is different from a country to another due to currencies and life expenses differences. For Example, If an American and an Indian have the same position in their countries, the Indian would get Paid $1,000/month in India but the American $10,000/month in America. If a Saudi company offers a job with 4,000/month which’s what a Saudi would get, that would mean the Indian would get 400% increase while the American would get 60% decrease in income, which would prevent the American from working in Saudi Arabia. If the Saudi Company offers based on high income countries like $15,000/month in order for the American talent to come, the Saudi would get around 400% increase and the Indian would get 1500% increases in income as well, which would never make sense financially to any company to do. In conclusion, In order to recruit a Westerner, he/she must have an extraordinary talent to justify the high cost of his salary over his peers. If the extraordinary talent could be found locally or from cheaper countries the westerner would never be hired unless he acceptes less than average salary compared to back home.
@@al3ndlib but that create a class of worker virtually incapable if buying neccesity object like food clothes medication and transportation from work to sleeping place, or going back home one day
@@sotch2271 in Saudi Arabia all jobs has to have healthcare insurance for the worker and his family including his mom and dad, housing allowance, and transportation allowance. These are considered basic benefits required by Saudi labor law. However, most jobs offer more than that. As for some expats, they get a home and a car instead of getting allowances. Some of the “labors” get three free meals daily.
@@sotch2271 in Saudi Arabia, there are 2 types of expats. The worker and they get paid alot even if they’re from poor country (they have talent). Second, the laborer and they don’t get paid a lot, however, they usually have no specific skill other than the will to work. Usually, they dont get paid half of that back home if they ever had a jobd. The laborers love working in Saudi Arabia as it one of the only places that offered them a real opportunity and gaves them double the money plus free basic benefits aforementioned. So don’t feel bad for them working for cheap, feel bad for them not working back home or not being able to immigrate to the west because the west don’t accept anything less than a talented educated middle class.
Canada should be one of the richest country on the planet with all it's natural ressources but the governments want to be so eco-friendly that we leave all this untapped potential in the ground. Quebec is filled with rare minerals and liquified natural gas, yet the government passed a law to make it illegal to exploit LNG.
As a Canadian, this comes off as a PowerPoint from an oil company looking to drill in the oil sands. It’s not a bad thing that a country will lose out on “progress” in the oil industry if it’s at the benefit of the environment. Most Canadians agree that they should protect and help the environment, due to just how rural most of the country is and how close they are to the wilderness at all times. Also, there are oil reserves other than in the Albertan oil sands, however they are mostly under the permafrost.
How did you miss the cancellation of the Keystone XL pipeline by Biden on day one? This was a huge deal in getting our oil at world prices. So instead of building another pipeline (Quebec opposed it) to eastern Canada where there are refineries and oil production in the ocean we buy Russian Venezuelan and Saudi oil from autocratic countries with zero human rights, in eastern Canada… It’s crazy
@Rich In Vancouver Keystone didn't have a much of a chance of being built, before Biden and cancelling it was the smarter move. Even many of the companies involved where only there because Canadian Government was putting money into the project. Many states were against it, environmentalist were against it and it had very little public support and lots of public opposition. The big problem with pipelines is that they leak and Bitumen is not something that is easy to clean up. That other big problem with Keystone XL, was that the economics where not on its side. It is true that that East Coast buys Oil from unfriendly countries, but building pipelines is a non starter. No one with a brain would even suggest doing something like that. Not to mention the Country is transitioning to EVs by 2035 and by 2025 all New Car sales in China will be EVs. It is too late to build Pipelines and have them be profitable. The numbers never worked not then and especially not now. Renewables / Green Energy is a much better bet for Canada. It has the technology and expertise to be a World leader in Green Energy Solutions / Technology.
The biggest problem most people aren't aware of is political. Provinces like Québec are heavily invested in Saudi Oil. They are also powerful politically and work against the Prairie provinces oil development.
Canada is about to be a huge provider of LNG, gas is about as bountiful as oil in the country, and new gas fields are being found. The first major terminal should be up and running by the middle of the decade. I can vouch for this as I personally am working at said LNG terminal. Canada also has great mineral and metal wealth.
I personally believe that Canadian oil and gas will eventually be more just gas than oil. Alberta oils are in a difficult situation for anything but domestic markets, and investment into it has been hesitant. While not all alberta crude comes from oil sands, 39% of extracted crude is bitumen, while another 28% is synthetic crude produced from bitumen. Only a third of extracted crude is not bitumen or sourced from, which means options in canadian oil are very limited. With the decarbonizing movements, power production will more heavily rely on natural gas plants to keep up with the fluctuations of renewables. Canadian gas can fill this role for north america and europe as it is a more ethical source for gas and western nations have very good relations.
@@mattkrumm8141 Inlet gas facilities, non process buildings, about half of Train 1, main storage tank and much more in place. Marine base in place and energized, most substations in place, trestle is only about 70m gap. Though commissioning and startup will take almost a year, but it's coming along and hopefully catch up to delays caused by Covid.
Wise Canada is letting OPEC+ use up its reserves while saving theirs & with a low population/consumption than America. Canada/Australia has good resource per population ratio
Monsieur Labbe This is why the current Liberal/Communist party needs to loose all their seats in the next election! I personally intend to vote PPC like I have in the past two elections, but the new leadership of the Conservatives also have some good points, just not as many. Trudeau is a globalist and really wants a non elected World Government and its is the people who need to see this does not and cannot ever happen. Canada needs to not only ban the WEF influence but needs to get out of the UN as well.
as an Albertan worker in oil industry, I would say Canadian oil industry is depending on U.S. and Canadian governor. 1st, Canada lacks of pipeline to export oil to any other country than U.S. Since the canadian oil are sold to U.S at a huge discount, as U.S. are the only customer. 2nd, Trudeau government is killing this industry by limit exporting capability. Before Trudeau was elected, the previous gov was proposing ENERGY EAS, TRANS MOUNTAIN EXPANSION AND NORTHERN GATEWAY pipeline projects to diversify export capability to different customers. Sadly, Trudeau killed 2 of 3 project to help industry to grow. 3rd, with Trudeau's extreme money-grab tax carbon tax, the foreigner investors are running away from oil industry in Alberta.
Trudeau did not kill the Energy East pipeline it died when changing market conditions ment it was unlikely to ever pay for itself. As for Northern Gateway, Trudeau did kill that one but it was never going to pass an environmental review. The terminal was going to be at Kitamat. To get there tankers would have to pass through three nature reserves and a long winding fiord. I don't think it's possible to find a worse place you could put an oil terminal on the entire BC coast. Also you are not giving Trudeau the credit he deserves for the Trans mountain expansion which he pushed through despite BC's objections.
However, one also has to face the idea that while the previous government may have proposed more pipelines, there is no indication that they would have been successful. The opposition to all 3 pipelines would still have existed. Unless the previous government was prepared to strong arm the people then Trudeau changes very little in the grand scheme of things.
That's okay we should all step away from that like we did from coal. Time's are changing, just change vocation. I did so in the mid 2000's when the USA banned Canadian lumber and we lost over +75,000 Canadian workers (direct and indirect) from East to West. Anyways we can live without oil from the oil sands. We have enough resources to supplement our own needs. Oh and Justin Trudeau has little to do with the cancellation of these proposed pipelines. All the Eastern provinces have voted against it, BC has also given Alberta grief and Joe Biden has expressed himself. The only recommendation I would have is; why don't you guy's put refineries beside Calgary and just supply by train like you already do.
@@slowjamsliver7006 well trudeau sure strongarmed the truckers so they could just arrest the protesters against the pipelines. but he's a disaster like his father.
The problem is in Canada we have an issue with a dangerous new way of thinking that runs all the way to the PM's office . This thinking is that the oil should be left in the ground and we should all embrace an electric future . Even though we are not in any position to move forward with this .
Most of the information given in this video is incredibly wrong. Canadian Oil Sands produce Synthetic oil, highly desirable for most refineries and they do so for profit at Crude prices less than $50/bbl … The oil sands do take a higher environmental impact for producing the oil than the conventional crude, but the end user is then saved from that impact … it is generally better for Canada to take this under our more strict environmental regulations then to allow another area to do it under looser ones. Just a little research further than the headlines of the anti-oil propaganda would have helped this video tremendously
“anti-oil propaganda” yea… because it’s not like oil companies have been lobbying our politicians and made our world revolve around them through informed science on its long term impacts
@Jwalkin Your information is not correct... the Oil Sands do not produce "Synthetic Oil", it is "light synthetic crude oil (SCO)" there is a big difference in terminology. Synthetic Oil is a manufactured lubricant. As for Canada's strict environmental regulations, this is true so a certain degree, but that process of Oil Sands extraction is an ecological nightmare. The video only showed some of the problems created by extraction. There are pools of Oil Sands Water that is dangerous to the Eco System, that isn't coming from an environmentalist, it is coming from a Human that has seen the OilSands WasteWater that has been pooled for decades, because there hasn't been a safe way to treat it, so it could be released back into the ecosystem. A little research would show, this is not anti-oil propaganda, but something that Industry and Government(s) have been struggling with for decades!!!! What many people are not aware of, is that the Canadian Government has to invest money into Oil Sands production, to keep it going, when Oil prices are not high enough. Oil Sands are an ecological and economic nightmare, when prices are low. Let's not forget, Iran and Venezuela are not really producing a lot of oil on the World Market, when those 2 countries come back online, we could see prices plummet, especially if the World starts to reduce Oil consumption as forecasted. Canada and Alberta should plan for a transition away from Oil Sands production, to a much lower level and sell the Oil on the Open Market and not just to USA at discounted rates.
@@tonespeaks great point here it’s a hugely unknown issue by the majority of the public just how much of a pollutant the refining processes can be and they have left many first nations communities without access to safe drinking water
Strict environmental regulations. lol. Currently the industry just dump its toxic waste in pond. We currently have the largest toxic lake in the world. There are hundreds more. Even worst no one knows how to clean it up. If you would force the company to clean up after themselves. The cost per barrel would be higher than 100$.
You mention infrastructure underdevelopment; part of the issue is that refineries are highly localized and it often makes sense for population centres not near the oil sands (i.e. much of the population) to buy from US refineries, who capture a lot of profit.
The overall energy trade b/w Canada and the US includes :(crude oil ,refined petroleum products ,natural gas ,electricity, coal,uranium,ethanol) The USA imports from Canada amount to $75.62 Billion USD Canada imports from the USA $19.64 Billion USD
It amazed me that when he said pipelines have “harmful effects on local populations” (those near pipelines and extraction operations) he showed an image of an American suburb. Unbelievable. The people there are the First Nations (‘American Indians’), and rates of illness in a dozen or so of their communities is astronomical (upwards of 3x higher than the national average) as a result of the pollution.
There are oil wells Pumping right now in Downtown Los angels and has been there for 80+ years . Fancy houses and businesses all around them. Natives have the highest rate of poor health no matter where their located. Alcohol,drugs and high rates of suicide plague them more than average even if they live in pristine environments.
@@digger105337 Yall need to get educated. im native myself and i notice it's mostly natives with trauma that do drugs and alcohol. I'm breaking the cycle of it. my grandparents been through residential School and had got trauma and that really affected them and my mom. Canada just treating us unfair. Learn more before u judge or u just like to hear what the public says.
This video fails to mention the governmental red tape in the way of any and all production for every business, oil company or not. Not to mention the extremely high taxes levied on workers, businesses, sales taxes and taxes on property. I'd say the inability for oil companies to turn a profit up here would entirely be the fault of federal and provincial governmental policy.
Trudeau killed our energy industry. Canada should be energy independent, no excuses. We also need a strong leader who will secure and develop the northern passage. It is our sovereign right as Canadians, and will allow Canadians to prosper for generations to come.
The American gov't and oil corporations have thrown up significant roadblocks to keep Canadian from finding its way to international markets. This is actually the main power behind environmental obstructions.
I understand why you pretty much only spoke about the oil sands since their the most well known, but there are also different types of oil wells in other provinces. For example, Québec has wells of natural gases in the Saguenay-Lac-Saint-Jean region, but the projects to extract them has been completely renounced recently as part of environmental engagements by the provincial government. Besides, many provinces decided to not allow some pipelines to pass through their territories for ecological reasons too, so it can make transportation inside Canada even more complicated.
we’re happy with what we have already these projects affect more than you realize. It helps some people out but there is always 2 sides of the story or situation. America does not care to help and they got Canada in their hands there’s more to it that’s we’ll never know about. You need to understand pipelines want to be placed in certain areas where the government of Canada isn’t even aloud on because they don’t see these people as citizens and these places don’t even have running water or electricity and is working like a third world country. People want more but ur country fucked over their own and knows they did and they know we all know this. First fix their problems they have been putting off for decades. Canada has bigger problems they haven’t even got close to fixing and other countries they are in debt with are getting impatient. if you think they aren’t working with other corrupt parties you’d be surprised. America doesn’t even want to help so the English and French leaders of Canada are getting no help and are getting used from bigger organizations with other countries of Europe and Asia. These pipelines will be placed when the person dealing w the cards want it to be done. It’s all a game bro
The lowest wage in Alberta oil sands is closer to $25/hr but most oilfield works here work 60hrs a week and up to 16hrs days and sometimes 24 days straight with only 4 days off.
I am from Alberta which has most of the oil in Canada. Albertan wants to export more oil, but the some part of Canada and the current liberal government is doing almost everything to kill it.
@@hhiippiittyy Cancel pipelines and annex the oil and gas industry all together as quickly as possible. No smooth transition or anything. Jobs will be killed and not given a chance to transfer over. I don't think many people are against clean energy, we are more concerned about our cost of living and our ability to have good paying jobs. With oil and gas being given a lesser and lesser priority as the months go on, more people are out of work, and our local economy gets worse and worse. Our power grids are not being updated and upgraded for the incoming flourish of electric cars which will be the only means of personal transportation able to be sold in just over 10 years, we are not investing into clean energy from powerful electricity generators such as nuclear. There is little being done, except for the narrative of 'cancel all things oil and gas'
@@brandonfriesen5389 Your right. But what about the carbon we'd be unleashing from the ground and into the air. That is far more scary then all the oil spills in all of history.
Yes I laughed at that too. Canada has both conventional oil and oil sands oil. Alberta has 8 different oil types. For example Syncrude Sweet Premium sells for $89.60 per barrel today vs WTI at $85.88. Then in Newfoundland and Lab. their oil is Brent crude.Canadians only look at the price of Western Canada Select (WCS) which is currently $63.85. There is a big discount for WCS as it is heavy oil with condensate mixed in so it will flow through a pipeline. But even at $63.85 Canadian oil companies are making serious profits.
This video is a bunch of bs, I've worked in the Canadian oil fields for 10 years. Fort hills one of the biggest and newest sites has a hard dollar operating cost of $25 per barrel. I know that because a high up exec told me personally. Now for the wages argument, what's the cost of living in Saudi vs Canada... there goes that argument. The main reason for Canada not being a Power house in oil, is political officials stunt the production and refuse to refine in Canada and send it over Seas as crude. Plain and simple they don't like the "dirty oil" even though Canada has one if not the top standards on the planet.
About the Trans Mountain pipeline expansion, tis would mean a pipeline running through a heavily built up city, the city where Greenpeace was founded. To load oil onto tankers in a very narrow and restricted waterway. The plan requires shutting down the only real west coast port Canada has for an hour every 23 hours. So foreign oil companies could make the profits. The people of the Vancouver region would take the risk. Canadians do not care about the companies losing out on profits as almost none of the companies involved is Canadian. Whenever a Canadian company reaches a certain size, it is almost always bought up by American or other foreign companies. Hence, the profits are declared elsewhere and not taxed in Canada. Canada and Canadians get the mess that is left behind but the people get a relatively small amount of wealth. As well, we actually care to leave some resources in the ground for our descendants. We feel little need to dig out all of out resources for short term needs. I could go on. But it comes down to being wealthy enough that we do not need to rape mother earth any more than what we need to cover our current expenses. We do not see the profits, so you tell us Canadians what is in it for us. We already have enough mess of abandoned oil infrastructure in ALberta where the foreign owners have left us the highly polluted mess.
I'm curious which "wealthy" province do you live in and for how many years did it get equalization payments, IE Albertan oil money, to pay its current expenses?
@@nilloc93 BC has not taken equalization payments since before AB was producing oil. We don't need the risk, money, or pollution. There are better things that Alberta should be focusing on, beyond buying another F350.
@@Nick-ft8dm Touchez F350 lol how you liking $2 / litre ? understand yet that oil is production power, means wealth? Long live cheap energy, still another 2 Billion people to lift out of poverty to go. That's what at stake here.
I understand you had a time limit for this video but a LOT was left out. When an oil company is done with an Oil extraction site they have to clean it and put it back the way it was before or in better condition then when they started, which is a high end of life price for any project. Another big issue is the lack of refinery capacity within Canada, lets just say there hasn't been many new ones in the last 30+ years... One of the reason for the discount on Canadian oil is that not all refineries are able to refine it. If we could refine the product in house, it would make it much easier to export, and we could charge a LOT more for it. But you know, that wouldn't be in the best interest of everyone, after all, the company that owns the right to the product use to dilute Crude oil that allows its transport via rail would have a lot to loose if new refineries or pipelines were built. But that would never happen, we're just talking about Berkshire Hathaway, they would NEVER do such a thing. lol
@240sxcollector It isn't easy to ship refined Oil products.. very expensive. One of the reasons for the lack for refining is the cost to build refineries. Let's not forget it cost a lot to get the oil out of the ground, add refining costs on top of that and it would exceed what many countries would be willing to pay. The bottomline, is that Canada's Oil is expensive to extract and is expensive to the Eco system. Canada would be better of investing that money and energy into Green Energy Industries and technology, that is the future, Oil will have a more limited role going forward.
There is plenty of refining capacity in Canada.In fact Canada exports about $10 Billion in refined petroleum products mostly to the US.The Refineries in Alberta ,Saskatewan and Manitoba all use WCS as feedstock.The only area in Canada with a lack of refining capacity is BC.But recently they announced that the Burnaby refinery will be expanded to allow for more capacity.Currently BC imports both gasoline and jet fuel from the Washington refineries during peak demand periods. The current Trans Mountain pipeline can batch ship so Alberta supplies both crude oil and finished gasoline to BC via that pipeline .BC's other northern small refinery uses BC domestic oil. The refineries in Ontario use a blend of upgraded oil from Alberta and import light crude from the US. The Ontario Sarnia refinery has a direct pipeline from an Alberta upgrader and uses that for it's feedstock. The 2 Montreal refineries use upgraded oil from Alberta via pipeline and tanker oil mostly from Algeria,Libya and middle east. The Irving refinery Canada's largest refinery uses Saudi Arabia light sweet crude mostly but brings in some WCS from Alberta by rail. Actually Alberta recently built a new ultra low Sulphur diesel fuel refinery . But you are correct that in the past 40 years hundreds of small refineries have been shut down in North America. Refining oil is a low margin business so you have to have very large refineries to make money. Forget about refining oil in Canada to ship finished petroleum products to the world. They want your crude oil not finished petroleum products. The cost to build a new large capacity refinery would be in the neighbourhood of $15 to $20 Billion ,plus about 5 years of construction.Who would build it? That new smaller ultra low sulphur diesel fuel refinery in Alberta came in at $9.3 Billion! The US has the refined petroleum market wrapped up with huge refineries on the Gulf of Mexico ,mostly in Texas. The basic reason that the Eastern refineries having to import light sweet crude is that is what they need to make a lot of gasoline which is the product in most demand in the areas they supply.They have retooled to accept some upgraded Alberta feedstock but they need light oil to operate. Plus Canada has a lack of pipelines and frankly it is cheaper to get in oil by tanker. Cost of shipping oil is a big factor.
@@don-cw1yz I agree with most of what you're saying, but to say that there is plenty of refining capacity is far from reality. When we went from producing about 1.7 million of barrels a day in 1990 to 4.7 million barrels a day now, with the possibility to increase it another million barrels a day within 2 years if we really needed it. All while the refining capacity has stayed around 2 million barrels a day since at least 2004, back when production was around 2.5 million barrels a day. In that 18 years production went up over 2 million barrels a day with no real increase in oil refining capacity. But like you said, we do a have a huge infrastructure problem. Even if we wanted to send oil to Europe right now, the only real way we have would be to send it via the Gulf of Mexico. We just don't have the infrastructure to ship our oil from Alberta to other Countries, well other then the US, which account for 97% of our Crude export. If we could get pipelines created to allow us to move our oil more freely Est and West, building refineries able to refine Crude would make much more financial sense.
Didn't mention that natural resources in Canada are the property of the provinces. The federal government has very little control over what happens with oil, until it crosses a border.
The Feds can control it somewhat. Trudeau and the feds had the power to tell BC to stuff it and to tell AB to just build the transmountain, same thing for getting oil through QC, he just doesn't want to
"100 years ago middle east was a desert wasteland" what a dumb statement. You're talking about main parts of Saudi and some other parts. Mesopotamia and Persian empire are some of the oldest civilizations on the planet.
No its not that s the profit margin at a 100 per barrel . Break even is around 85 per barrel . You can find this through the financial disbursements for govt subsidies
Well Canada does have plenty of other energy resources as well so I'd say Canada has the potential of being one of the world global leaders in the world, ie Potash, natural gas etc etc.
Canada has the highest standards of environmental protection extraction in the world. In addition they reclaim the land that is strip mined putting it back in the condition it was found. While this is good it seems to leave these important factors out.
That's what they say, except the oil sands have miles upon miles of tailings ponds where toxic waste is dumped in the open air. There is no serious reclamation going on.
Definitely the highest regulatory and and I'll add human rights standards with only Norway, Scotland, and Australia even in the conversation among larger players. That being said I find it much more useful to separate climate change causing emissions (which oilsands are a whopping ~2-4x more per barrel) vs everything else environmental. Pointing at strip mining, giant tail ponds (both in reality are very rare and frankly now uneconomical thanks to regulations) and pipeline spills (which have similar statistical environmental impact to building major highways or electrical transmission corridors) is like blaming Chernobyl alone for why nuclear stalled. Ancient tech that allowed for a much higher risk of human exposure and environmental catastrophe has little to do with the real modern complicated economical and political challenges like competing with ever-dropping solar (for power/cars) or just the public and market's understandable hesitancy in funding 50yr+ capital projects when no one really knows if the demand for oil will shrivel against "new tech X" over decades (or even over years) like lamp/heating oil aka kerosene, coal/steam based transit, or VHS lol
@@EdgarC701 Is that why the Fort Chip First Nation has such high cancer rates (many rare cancers) because of high environmental standards? Is that why the AB govt shoots wolves from helicopters? Is that why so many farmers have lost livestock from sour gas well flares? Is that why there are thousands of contaminated water wells from fracking that people can't drink from? Is that why there are thousands of abandoned well heads leaking toxic fuel and methane? Because of high environmental standards? Give your head a shake.
My guy you just glossed way over the complex reasons why Trans Moutain isn't being built. Boiling it down to "political pressure" and "environmental concerns" is super reductive, I've personally worked on the project, and trying sum it up with those two statements is a total disservice to the people involved.
It’s actually not a regulations issues but a lack of cooperation between provinces and heavy lobbying by special interest groups that hold them up. We do have strict regulations but those are accounted for in the panning stages before ground is even broke.
The biggest problem for most Canada oil production is it take a lot of ENERGY to produce that oil. From what I have read what oil Canada is producing takes the energy in one barrel of oil to produce three barrels of oil. Venezuela has a similar problem with much of its oil reserves through Venezuelan oil is NOT as hard to produce as Canadian oil. Worse most of the Canadian "oil reserves" are similar to similar "oil reserves" in the US, it may take the energy in one barrel of oil to extract one barrel of oil from those "Reserves". In simple terms, unless you use nuclear power as the energy to produce such oil, you will have to use more energy then you will get from producing the oil. There are coal fields in England where a similar problem kicked in startng in the 1920s, no matter how mechanized England could make coal mining, the energy needed toget at the remaining coal exceeds the energy we would get from that coal (So the English slowly closed down those mines, accelerating it under Thatcher and a few years ago closed down they last coal mine). Just because the oil (or coal) is in the ground does not mean it can be mined. It takes ENERGY to mine coal or produce oil and no one will produce that oil or coal if the energy to produce such coal or oil exceeds the energy we can get from such oil or coal. Most of the oil "Reserves" in the US, Canada and even Venezuela is believed to be that costly in terms of energy to produce to ever be produced. Thus do NOT look at "Reserves" but the much smaller "Recoverable Oil Reserves" the latter will be more accurate as to how much oil we can produce (Through some accounting rules lead to a to small a number for "Recoverable Oil Reserves" but such numbers still tend to more accurate then what is called "oil reserves"). Please note under OPEC rules, each OPEC nation's ability to ship oil is based on they "Recoverable oil Reserves". When this rule was adopted every OPEC Member within a few years stated a huge increase in they "Recoverable Oil Reserves" almost up to the level of was believed to be they "Oil Reserves". Thus it is believed Saudi Arabian and Venezuelan are to high (With many outside oil experts having much more faith in Venezulean numbers then the rest of OPEC and that is especially true of Saudi Arabia). That appears to be a factor in the recent oil price increases (along with a boycott of Russian oil, Russia is NOT a member of OPEC but is either the number one or two oil exporter (Since the 1980s Russia and Saudi Arabia have been either numer one or number two oil exporter, whose number one and who is number changes but is has, since the 1980s, been Russia and Saudi Arabia). Since at least the 1960s, the top three oil producers have produced more oil then the next ten oil producer combined. The top three oil producers have been Saudi Arabia, Russia (prior to 1989 the USSR) and the US. The US produced more oil then anyone till Reagan becam President (BUt not enough for domestic use, the US was a net oil importer from 1969 till about 2016 when the US became a net oil exporter again, but today, 2022 the US is again a net importer as Shale oil production has dropped). Back to Canada. Canadian oil reserves while large are NOT belived to be recoverable from an Energy input, Energy output point of view. The same is believed of most US Shale oil production (The most profitable US Shale Oil Fields started to be drilled around 2006 when oil reached the price it had not been at since Colonel Draked drilled the First oil well in 1859). Thus most of that oil will stay in the ground with people crying why we do not get it out.
@@kaleidoscope3234 So you think beause we can use two gallons of gasoline to pump one gallon of gasoline, we will do it? That is the restriction, not that it can NOT be done, but it will take more energy to do so then we will get out of the transaction.
@@paulmentzer7658 that's a bit of exaggeration lol. You assuming the only energy source we have around is nuclear and thermal plants. You are also assuming the only mean to transport oil around is pumping them onto freight ships. Both of your over simplified assumptions are just plain wrong. You think it doesn't cost energy to drill oil from the sea floor? It does, and by a lot, but people get those oil out and still return decent profit anyway. The problem is oil is limited and it is generally best strategy for any country to avoid tapping onto their oil supply as much as their economy can endure. If your country run out of oil you are at complete mercy of countries that still have oil reserve. That's why USA and Canada limited their oil exploitation.
@@kaleidoscope3234 The US and Canada HAVE NEVER RESTRICTED OIL EXTRACTION, the restrictions imposed has been economics. For example Saudi Arabia kept the price of oil more or less stable from 1973 to 2004 mostly at a price it would be unprofitable for the US and Canada to fully open up its Shale Oil Fields. Some experimental wells were drilled but that was all. Shale oil became profitable is when you saw massive drilling of shale oil (And other Oil, around 2008 I was visting Alllegheny National Forest and you saw massive oil wells being drilled, for while the Federal Government owned the forest and surface rights, private ompanies owned the mineral and other sub surface rights. It was a mess, electrical lines hanging from trees, not wooden poles, but uncut trees. It was a wet year so no massive forest fires butyou had electrical lines all over the place as people drilled for the expensive oil underground. Most those wells are now "dry" for the power needed to pump those wells was in excess of the power from the oil being pumped. As to using other sources of power, yes it is doable, but it makes more sense to use that other souurces of power directly? I.e. use electrical power to propelll a vehicele, rathr then use tht power to pump oil to do the same job AT INCREASE ENERGY COSTS. The remaining shale oil fields have reserves that equal less then a third of the energy needed to obtain that oil. That makes it porfitable but sooner or later you will hit the point where the energy obtained is less the energy produced and when that happens oil production for transportaton and heating will stop (There are thngs, mostly medicine, that is produced from oil and in such cases how much energy it takes to produce that oil is unimportant but such objects are ver rare when compared to oil used in heating and transportation).
Canada also has off shore oil just off the coast of Newfoundland . There might even be other off shore opportunities in other eastern provinces. I think that they would sell oil to improve provincial budget deficits.
Saudi Arabia has a lot of foreign workers from less well off places. At least partially explains why the salary is about as good as working in the food service industry for 3/4 of the year.
Oil production in Saudi is government owned. Aramco do not hire foreign workers, most of low skilled foreigners in Saudi work for private sector. Aramco only has Saudis and high skilled Arabs and Americans.
yeah but in private sector which doesn't require highly skilled workers, Aramco has extremely high salary 3 times more than US & other western nations also grants you alot of benfits like house & car allownce & driver, maid and paying for private school family healthcare insurance This Job Require only Highly Skilled Worker, meanwhile south asians are known to be cheap labor because they are low skilled/ and need to be trained & educated
In the last decade we have lowered more then triple the cost for oil sand separation making it profitable now for us to remove it. The biggest factor now is the fact that we are aggressively trying to be more eco friendly and to mass produce our oil reserves now would be counter productive for our goals.
Man I love western Canada and I work in oil and gas and have for 10 years now but the oil that comes out of the oil sands in alberta are incredibly polluting compared to any sort of conventional oil. It's not even close to be honest. Canada as a whole? yes, but with respect to the oil that comes from the oil sands that's just not true. I'm not saying stop extracting it, but there is a long way to go before you can call it the cleanest extractions in the world. Unless of course you're talking about the conventional oil that comes from Alberta and Sask.
5:40 Its not accurate to say that Canada has not considered the option of exporting oil on the global market. The fact is that on both coats, there is a province that absolutely does not want to allow "dirty oil" through its jurisdiction. Alberta's oil is effectively landlocked. Worse yet, Alberta had an opportunity to export that oil. In the 80s, Trudeau wanted to use that oil to benefit the entire country. Alberta chose to be selfish. Alberta did not want to share the benefits of that ressource with the rest of the country. Pipelines definitely could have been built in the 80s. Environmental regulations were weaker, and the environmental movement was still in its infancy. In today's world, there's absolutely no way those pipelines are ever going to get built. Alberta's greed ended up costing them the only chance they had to get their oil to market. That legacy still haunts Canadian politics to this day.
Oil resources are provincial jurisdiction, so it isn't greedy for Alberta to keep the royalties from their own oil. If provinces like BC and Quebec would just develop the hydrocarbons they have, instead of forcing them to stay in the ground, then they wouldn't have to demand that Alberta share.
@@sagmilling As far as I know, the only oil that is reasonably recoverable in Québec is located in the St-Laurence Gulf. One of the company who had the licences failed to get its licence renewed in 2020. The whole thing has been a cluster f of mishandling. They clearly weren't ready to exploit anything at all. If anything, there's a history in Québec of small "newly created" companies pretending that there's oil to be exploited, that they know where it is, finding absolutely nothing and leaving a mess behind. They are a large part of the reason why there's a distrust of the oil industry in Québec. Serious oil producers know better and aren't going to come here to exploit a money pit.
@@sagmilling Why should Quebec bother with oil when everything is slowly getting electrified and the province happens to have super cheap electricity available?
Great video. Some issues I had were the side statements that were made. There were some inaccurate statements, stating Venezuela has not capitalized off their oil due to corruption hardly tells the story. They were benefiting from it until the US implemented sanctions. Also, stating the Russia war causing oil prices to rise isn’t very accurate. It may have added to it, but definitely not the main reason.
I mean, for Venezuela, is it even really US sanctions or capitalization of their oil as just a total mismanagement of their economy because of oil? Yeah, US intervention may have accelerated and exacerbated the issue, but that was a house of cards with no foundation
Nope I think the extravagant social spending, and mismanagement of fiscal resources and the corruption of government had more to do with it than the US sanctions.
We are, though. Most of Canada's oil wealth stays in Alberta because natural resources are under provincial jurisdiction. And oil sands are way less efficient, and harms the environment more due to the intensity of its refining process.
We have one of the wealthiest economies in the world without tearing up and poisoning our backyards... Greed isn't the answer to a future for Canada. I certainly don't want my province thrashed so that foreign oil companies can reap profits.
@@B-... Resources are only the way to wealth if you can utilize your resources effectively. Having all the gold in the world doesn't matter if you can't dig it up or transport it, and that's Africa's problem, if they could fully utilise their natural resources Africa would be ridiculously wealthy. Just look at Dubai 30 years ago
Makes you wonder how the oil sands came to be .. was it a massive underground reservoir that leaked over thousands of years into the upper layers.. if so is it still leaking.. is there any left in the reservoir.. maybe a large ice cap pressed down on the land causing the leak and is now melted away.. would be interesting to see a map of the sands to see if there is a pattern from a central leakage point..
Ancient organic matter died and was covered by layers of sediment that exerted sufficient pressure and temperatures to transform the matter into petroleum (similarly to carbon and coal or graphite). migrated north where it became trapped in the huge amounts of quartz sand left behind by the rivers that once drained into the ancient sea.
Oil sand exploration is actually a good thing as for an environmental view point. Oil sands are a natural disaster that are being cleaned up. There are many communities that didn't have safe drinking water before being explored. But environmentalists will never see or admit this
@@benrakus4912 Yeah we all heard of those inhumane provincial governments that "refused" to expand their utilities to these communities. Shameful in every way, hope those politicians go to prison for that. But your safety concern are irrelevant as the first nations have always known of these ever since they set foot in the area (17,000-11,000 years ago). Which they used the bitumen from seeps to waterproof their birch bark canoes and for certain tools. And they knew better than anyone to settle near there. So the only reason why many natives where settle in those areas was the government in place that put them there. Ever since the planet has evolved it was never a disaster but a natural occurrence, as they are prevalent all over the world. And just by surprise!!! It was an issue here in Alberta. If you want to be logic about it, firstly you relocate the dwellers or secondly you supply them the same services that are offered in cities.
If we (Canada) stop giving other countries like America oil when we (in the future have some of the only oil left) they will just slap down our military and take it
The thing is that Canadian oil is simply more eco-friendly than many other countries (such as Saudi Arabia). The regulations for environmental protection and permissible levels of pollutants are much much MUCH stricter in Canada. Not only that but the way workers are treated and the number of human-rights violations are much better in Canada. Saying let the economies who are dependent on oil continue to produce it neglects this very important fact. Voting with your dollar doesn't only apply to if your coffee is fair-trade or not, but your countries oil as well.
Saying that Canadian oil is more eco-friendly than countries like Saudi Arabia is an absolute lie. Our oil is far more damaging to the environment than any other producing country except Venezuela. These are proven facts.
What I'll never understand is why Environmentalists & Oil Industry Experts don't work TOGETHER on revolutionizing our oil industry with new, cleaner, technology so we can move FORWARD as a cleaner & more profitable country! It kills me that extremists are so dead-set on winning a power struggle than working towards what benefits EVERYONE the most.
One reason it wouldnt be good to heavily invest in upping our oil export infrastructure, was stated in the clip. It costs us more to produce due to our wages and safety standards so yes while there is a shortage we might make money but if or more likely WHEN that demand goes away (who knows how short a time that would be) we might then be left holding big reserves that no one wants to pay for since they can get it cheaper elsewhere thus leaving us selling at a loss. A similar situation to the cocoa bean over producing that happened years back.
Sorry I’m late again and missed your 10 year anniversary on RUclips 🎉( got covid but recovered 👍🏻 ) back to the topic, Canada is nice and happy paradise but I don’t think Canadian government is that much crazy about oil like other countries due to its complexity and general understanding. Great video 👍🏻 Don’t worry if they don’t have oil , they have millions of gallons of maple 🍁 syrup 😂😋
What I hope is that when we expand exploitation we'll use a less polluting process than the one in use now (CLark). It wastes a lot of water and energy. Our oil is also more difficult to process and we sell it somewhat cheaper (I think $5-$10 a barrel) because of that. Indeed most oil goes to the US refineries all located in the South where the Gulf of Mexico is next door.. What we need in Canada I think is more processing of oil into other useful products (eg composites, plastics...). Remember too that 5 to 8 years ago the market was flooded with oil. Another point about pipelines is that they would sell better to environmentalists if oil pipelines were built like gas pipelines... particularly in sensitive areas. When eastern provinces opposed the proposition to reverse the direction of flow in the existing pipelines, a big reason was that not enough precautionary measures were taken to prevent leaks. ANd last we do have a lot of gas... a pipeline was recently non approved because where it would end in QUébec was up a river (the Saguenay) where 3 to 5 LNG ships would have sailed daily.... And right at the mouth of the Saguenay river is a reproducing and feeding area for whales. Heavy impacts expected. Alternative solution that would have been accepted would have been to add extra 200 kilometers to the gas pipeline up to a port located on the ocean (eg Forestville or Baie Comeau). Let's hope for the best for everyone on earth with more sensitive policies on energy conservation, transportation and elimination of very low quality products that consume energy and become trash within minutes.
You completely missed the legal obligations and barriers between Canada (often represented through the Province) and First Nations regarding Duty to Consult and ensuring environmental damage does not infringe upon traditional livelihoods activities protected under Treaty and / or Section 35 of the Constitution. First Nations aren’t “environmentalists”: they are sovereign Nations that have been neglected or pushed out of industrial economic development decision-making forums, and hence resist when projects like oil sands development or pipelines will likely benefit Canada and international oil corporations while they endure the harm caused in their traditional territories.
@@xylo5750 Actually we do have a pipeline from Alberta to Ontario, the Enbridge line 6 pipeline. Currently all of Canada's refineries west of Quebec City use primarily Canadian oil. It is only Atlantic Canada and parts of Quebec that rely on imports
I’m talking about the treaties signed with the indigenous people. They’ve already been broken multiple times, but nowadays it’s harder to get away with.
The lands that are owned by native Indians in BC will not allow the pipelines to be built on their soil stopping it dead in its water. The Keystone pipeline from Alberta to the US is delayed until there is a Republican president to continue the push. So the only hope Canada has to send more oil to the US is the Keystone Pipeline. But then they still have the environmentalist blocking them. So essentially nothing will progress.
That's not stopping Trans Mountain at all. The RCMP just show up and arrest protesters regardless if they're the treaty region that owns the land. The Federal government, regardless of who's at the helm, has always steamrolled the rights of indigenous people for financial gains. Even the Liberals, who like to talk a great game about reconciliation yet do nothing to achieve that reconciliation.
Canada belongs to the native people first and foremost, their interests should come first, if they don't want someone to build a pipe line through the land they have left, then let them be. Like anyone else, I'd want the economy to prosper but it doesn't have to at the expense of the peoples wellbeing and environmental health.
The biggest challenge we face are geo-political challenges. Being someone who just graduated a petroleum engineering program here I can say I've spent a lot of time studying this. One major issue is our differences with Quebec, we have wanted to extend a pipeline from Ontario to Quebec so we can reach the eastern shoreline but Quebec is strictly against this for "Environmental reasons", if you know anything about Canadian pipelines we have the worlds highest standards for pipelines and just highest standards in our oil and gas industry alone. Quebec has criticized the expansion we called "Energy East", but yet they would still rather import over 100,000 barrels of oil a day down the major St. Lawerence River endangering sea life and not only that but they're buying oil from places like Saudi which is well known that they're working standards aren't necessarily the best. As for the Oil Sands being horrible for the environment, yeah sure the extraction process isn't the prettiest thing but you didn't mention any of the remediation or reclamation standards we go through to literally return these top harvested lands to exactly the way they were before the sands were harvested. Lots of pictures and research on that but you literally can't tell a difference after all is said and done.
Funny thing about the Quebec politicians.They have no "social licence" for an oil pipeline through Quebec but they have no issues or qualms about receiving money from transfer payments that is created by that oil wealth. Quebec used to get the majority of the feedstock for their refineries from a oil pipeline that comes from the Hudson River in New York. That pipeline is still being kept wet as an emergency supply alternative. Quebec now gets crude oil by pipeline from upgraders in Alberta and oil tanker crude from Algeria and Libya mostly.
@@don-cw1yz Right it's like they claim they have no agenda for it but have no problem taking that $13 Billion a year that comes straight from that industry practically
@@LodusGaming we pay more in federal taxes than wen receive from this "transfer payment" while the federal gives absolutely nothing for Hydro-Québec of course we receive a "compensation"
Its not like we aren’t totally ignoring our oil reserves. I live in Alberta, to say our economy revolves around Oil is more than an understatement
One problem you didn't cover was Canadian geography. To get Canadian oil to a port you have to cross the Rockies if you go west or the Precambrian Shield if you go east. Going north is fairly easy, but the port would only be ice free a couple of months of the year. The best route is actually south to the Texas coast which is what the Keystone XL pipeline was going to do until Biden killed it.
There is a pipeline going to BC (been there since 1953). The east voted against it. Being from one of the provinces, we don't understand the need to have oil. We have excess production of electricity (no solar, no nuclear, no gas, no coal power here), we can't wait to have more reliable electric cars against the cold.
@@robert-antoinedenault5901 what are you babbling? no nuclear? ontario makes most of it's power from nuclear
@@ronblack7870 Never said I was from Ontario but Canada doesn't stop in Ontario there's quite a few more provinces past that one. The pipeline does make it to Ontario but not passed that point.
BS. Plans for pipelines to West and East coast coast met with environmentalists. I suspect politic is the issue.
Canadian here, living only 150km from Alaska. Here in Prince Rupert our Port never freezes more than a few weeks of the year and we have multiple exports already and over 1000 dock workers we could handle a pipeline here and also our neighbor in Kitimat BC
Canada doesn't just have oil dans, lots of shale oil as well. This video massively simplified the Candian geologicial and socilogical issues at play.
true and the trans mountain pipeline is being expanded now. delivered some of the pipes my self. also wrong about wages in oilfield here. we dont get paid by the hour its by the day in at most companies and its 100g a year to start. 75g a year is only like 25hr
@@Wildmarshmellow if you work on a rig it's by the hr and most companies pay you by the hr.
Yeah, not really taking into account pushback from the local indigenous too. Their opinion is important in this conversation too because the plans were designed to use their traditional territory. Some are for it and others are against it but there’s been lots of protests against it
@@gerhardschulzy well i didnt and my friends dont we all day rate and bonuses
@@gerhardschulzy i did Frac.
From someone who worked in the oil sands: it’s a lot more than “hot steam” going through the process used to separate the oil
I remember sending 10 trucks of Liquid Nitrogen sometimes to a frac job.
I like where this guys head is at, but to say that majority of Canadians are happy is so disconnected with reality. This country has gone through the ringer. Can barely get a doctor to see you. Free health care? ROFL. Okay, good luck getting seen
@@bknighty28 Worst part is we have plenty of doctors to fix the shortage, but the government limits how many licensed doctors can be working at any one time in the country so we get 8 hour wait times off literally just the stupidity of politicians
the entire video is over simplified and partially inaccurate, take it for what it is.
@@bknighty28 Dont tell the rest of the world, they are in denial about it. Ive been waiting 10 months to see a dermatologist, and I still dont actually have an appointment LOL
The problem in my Canadian opinion is there isn’t enough cooperation between provinces and governments. Seems like it’s always an us vs them battle. There are many special interests groups lobbying for or against oil distribution networks. Modern pipelines can’t get built because too much opposition despite it being the most economical and environmentally friendly method of moving oil over Canadas vast distances. When infrastructure is approved, it tends to be extremely costly as the distances are vast, we have stringent environmental protections, and our construction costs are very high compared to a places like Russia, China, Golf States or Angola. Once oil reaches the west coast then you need to ship it through environmentally sensitive tight coastal water ways. Like many things in Canada, vast geography, political polarization, trying to compete against third world economies with less regulatory oversight and slow governance hold us back.
Has a Canadian, I say keep the oil where it is. Environmental issues should not be overlooked for money in short terms. If something bad happens, we take it out in 20 or 100 years at much higher price.
There is no such thing as an "environmentally friendly" pipeline or a tar sands operation. Get real.
But also oil itself in Canada is a special interest group. It's privately owned and privately operated, for private profits. You can't expect the entire country to band together so Suncor or Enbridge's CEOs get bigger paycheques.
True that they pay taxes like everyone else, but from a national standpoint, this is the only benefit most places outside of Alberta will see.
@@magnang yes but it is taxed and a major revenue stream for western provinces and the feds. Alberta had no debt for 45 years and now just paid off the very high NDP incurred debt pretty much entirely using oil revenue.
@@magnang Transfer payments ensures the entire Confederation is benefited by Canadian energy profits.
I agree Suncor and Enbridge sucks; but those companies are made up of tens of thousands of Canadians. Many of whom moved from other provinces.
Not all of Canada breaks even at 90$ a barrel. Canadian companies like Suncor break even at 30$ a barrel.
I believe you are confusing crude oil sales with refined product sales -- a barrel of crude oil can produce many different things from engine oil to gas to chemicals depending on how its distilled and mixed in the refining process -- refined oil 30$ a barrel is probably profitable but selling crude direct it may require 100+ $ a barrel for it to be worth while.
@@DotADBX you are right perhaps I was confused by the video
It’s an average. But, on average, Canada has some of the highest production costs in the world, which are now roughly double those of the US.
@@DotADBX no you seem confused . refined products cost more than crude. suncor can break even at 30 dollars a barrel crude oil price. they are selling crude oil . for instance now hydraulic oil is 6 / gallon in u.s. so 240 a barrel.
Conventional oil is even cheaper to extract. 90$ cost for oil sands is crazy 😂 it's actually 25 to 40$...
Canada should at least take the Norwegian model. Create a massive fund. Even if Canada wanted to export more oil they’d have a hard time. They’re very strict with environmental laws, British Colombia would probably ban new pipelines coming in from Alberta.
I heard Alberta did try to create a Norwegian-style fund, but it is only 12 dollars per Albertan.
@@saihajmann6622 good enough to pay one month of basic Netflix, can’t complain.
As a Canadian BC should not be allowed to sabotage the entire country's oil industry. I'm not from Alberta but if China is buying oil then we should be the ones to sell it, not the middle east!
Our country's leaders are fools.
@@cb2638 my bad, I thought it was much lower, but Norway's is still better.
I’m a double citizen (US and Canada), and I think this - along with the fact that Alberta is now the only province which is a net federal tax payer - is one of the main reasons Alberta will eventually leave confederation and seek statehood. Likewise, Alberta is arguably more culturally and politically similar to the US than it is to the east and BC.
As a Canadian I think it’s amazing we don’t need to rely on our oil but I would like to be purchasing Canadian oil at the pump
Bro most of us are buying Canadian oil at the pump. Some get refined at US refinery.
@@syjiang 99% of all Canadian oil is sent to the USA then some is brought back to Canada for purchase. But there is no guarantee that the Canadian Crude oil that is refined there will be sent back to Canada.If the oil was extracted and refined within Canada than that would be Canadian oil.
@@Kenword69420 why you guys don't refine your own oil? Country is rich so what's the issue here?
@@mango-strawberry The problem is building refineries takes a long time. I think that's the issue half the time.
@@XSHABX I see but still I think you can guys can do it.
"alberta probably has less working hours per week than Saudi Arabia"... thats cute, im a Canadian oil and gas worker and its not uncommon to do 200 hours in a pay period... my longest shift I've ever worked was 36 hours non stop, no joke. I work in a oil town, average age is 24 and average salary is about $110k/year, I just think your aspect on that is a little under represented. How little we exploit our oil and gas reserves tussles my feathers, and much of western canadas, especially considering how ethical and environmentally conscious our oil and gas industry is compared to most global exporters. We are a world leader leader really in this front. If we are being pragmatic and want to reduce our carbon footprint but understand we can't just simply stop our oil dependency without going back to the dark ages, then the world should be using more canadian oil, as much of our opposition dont even come close to our standards, for example we have some of the strictest reclamation laws in the world. Basically using Canadian oil over other countries oil would drastically reduce the global carbon footprint in energy production.
I will also like to note you keep mentioning oil sands, implying thats all of our reserves or most of. Oil sands are found in the Fort Mac area almost exclusively, pretty much every other reserve we have is in deep wells and shale formations (same as other oil exporters, for example the USA)and has nothing to do with oil sands, instead oil sands is just one of our large reserves (granted very large)
I fully agree with you on 'Oil sand is in only Fort Mac area'.
One of Canada's big exports is technical consulting labor. Canadian engineers, geologists and geophysicists travel the world improving the standards of projects everywhere bringing their big $$$ consulting fees back to Canadian bank accounts.
The problem its expensive and the enviromental impact could be devastating if a oil spill happend
@@theuniverse2713 you're missing the point im making, and I am speaking from personal experience as I've been an oil and gas worker for over 6 years, as well my brother is a major consultant for a very large Canadian pipeline company. To my knowledge canada has the lowest risk to oil spills because of what is required by our standards and law to drill and push oil and gas down stream in this country. Yes this means it is more expensive, but at the same time it produces the lowest risk of spillage compared to other global exporters including the USA. I've worked with engineers who do this in Texas and you'd be baffled on what they allow to happen to move oil and gas down there (for example I've heard stories where they'd create a trench and flow oil and gas for dozens of kilometers for a truck to suck up at the other end because the trucks can't access the site directly) very few people come close to our standards. There is a risk of spillage anywhere in the world because you can never 100% guarantee non accidents in any industry, but the reward risk factor is to great to pass up.
I will also like to point out Canadian pipelines are bar none way more environmentally concious and safer than the current mode of transporting oil and gas, I.e disiel trains, trucks etc. Forgetting the emissions from the machines that move them, there is alot more spillage that come from rolled over trucks and derailed trains then any of our pipeline leakage because there is no human factor in pipelines, just simple engineering, that goes under strenuous testing and monitoring in this country. As far as drill pipe and casing down hole, in modern drilling, fracking etc, there is hardly any risk of ground contamination (again nothing is guaranteed ever in life) because of the requirements for the amount of protective casing and cementing to protect the earth and water tables. Environmentalists wrongly compare Canadian fracking and drilling to incidents in the USA, again we are a completely different country with much more stricter regulations, meaning we don't create the same risk of contamination or ground tremors.
Point being Canadian oil gas has the smallest environmental impact in the world for oil and gas exploration for many reasons. I.e pipeline standards, down hole protective casing and cementing, very strict spillage protection and clean up, and probably the strictest reclamation laws in the world, which means an oil company is required by law to return the leased land back to the original state or better than they found it once a well site has been abandoned.
Yeah it is a tough call for sure.
I do feel Canadian oil is among the best in the world (ethically and environmentally anyways).
And pipelines are the best way to move oil & gas (environmentally and economically).
But we need to resist all petroleum used as fossil fuels globally to stop the harm to the planet. (There are many other uses for oil & gas other than as fuel, some are potentially good for the environment in some ways so I am not saying all petroleum should stop. Just stop burning the stuff which will greatly reduce demand for petroleum and cause a massive industry adjustment).
So do we promote and facilitate Canadian petroleum through pipelines to export hubs or not?
Cause we do want any future use of petroleum to be Canadian petroleum, but we also want to massively cut demand at the same time by eliminating its use as a fuel.
So it is a tough call to support Canadian oil exports or not (Environmentally and ethically).
One issue is that British Columbia really does not like having oil tankers transit through its coastal areas. There is actually a ban on tankers along most of the coast post- Exxon Valdez
Its not an issue if its solves a problem: Can't have oil spills if there are no oil tankers. That coastline is far more important then the need to have trucks and RV's. We don't need larger landfills.
They have lots of cruise ships sailing by so its not about the environment. Lots of BC politicians are paid by US companies to damage the Canadian oil industry.
I can understand their position tbf, the vancouver bay area doesn't exactly have the best, water flow, everything flows into it, not really out, so an oil spill in the bay would destroy the bay for potentially years.
United states runs the tankers through any how so Canada Might as well run their own
@@GargamelSS the united states can do what they want, we don’t need that junk up here there are enough huge barges all over the bay/inlet we don’t need to add tankers to the mix. If you don’t live here your opinion is just speculation.
The reality is american companies constantly block pipeline growth of canadian oil to american refineries (which would result in cheaper oil for everyone) through expensive lobbying of politicians and bad-faith environmentalism in order to protect the hold they have on their domestic market. Has very little to do with wether there are companies in canada willing to drill the oil (there are plenty) when they have no easy channels to sell it in bulk.
If Canada actually took their oil industry serious they’d pipeline the oil to BC to be exported to Asia.
@@MS-37 why’d you sell to Asia, shipping oil is generally more expensive than pipelines
Not American companies, but the American government (especially biden, obama and the majority of democrats) which are obsessed with pushing electric cars, windmills, and solar panels.
Not American companies, but the American government (especially biden, obama and the majority of democrats) which are obsessed with pushing electric cars, windmills, and solar panels.
It probably wouldn’t though. Full cycle US production costs (mostly shale) are now only about half of Canadian production costs. If anything, Canada will become a net oil importer vis-a-vis the US in the future. As the video notes, Canada needs nearly US$100/bbl oil to produce profitably, while US shale breakeven is below $50. And because the extremist greenie nuts in Vancouver won’t allow any pipelines to be built to the pacific, this effectively gives the US a monopsony (single buyer market power; the mirror of monopoly but on the demand side) on Canadian oil.
Canada is the third largest oil exporter in the world. The conclusion and title of the video are factually wrong. Canada does exploit it's oil reserves fairly aggressively despite all the technical issues.
At the same time, the video does cover many of the aspects of the Canadian oil sands industry. In my view the primary reason that Canada doesn't export to Asia, or even permit significant Asian participation in the oil and gas industry is long term policies in Canada and the US for energy security. There is a "silent" tendency in trade, business and government to keep the Canadian resource for North America only. As every Canadian and Mexican knows, what the USA wants, the USA usually gets.
When I worked on offshore projects a "spill" was anything more than a gallon. More oil is spilled by DIY mechanics in any major city in the world that is spilled by the oil industry in Canada most years. But when the oil industry has a big spill, it can be spectacular. This is the nature of any large industrial process. The environmental issues in Canada would be (and are) quickly swept aside if there was any serious impediment to US energy supply.
Yeah that's why we've been trying to sell our electricity surplus but they have imposed a tariff restriction (lower prices just like our oil) on us and their largest City (NYC) is screaming after the federal government for their interference in this "deal" as we just turned them down (a few months ago).
Yes what the US want in north and even south america the US gets
how ironic is it that canada and not saudi arabia has what's called sand oil lol
Thank you. Good to see some critical feedback on these type of clickbaity, view hungry, often misinformed youtube videos.
them thinking that Venezuela didn't exploit their oil supply because they were corrupt also pains me. they exploited their oil supply and as a result became corrupt.
Canada DOES have liquid oil!! I personally know people who work on the oil fields working on "traditional" extraction methods. The thing is there is more oil in the tar sands, and like the video explained it is harder and more expensive to extract. But when the price is lower we are STILL pumping huge amounts of oil out of the ground
Liquid oil has been pumped out of Alberta for Decades Think Leduc no.1 in 1949 . The oil sands did not really kick off till the 70s
Keep in mind that conventional made up ~80% of Alberta's oil production with oilsands (mostly strip mining) made up the remaining
~20% around the turn of the century. Now those figures are flipped largely due to automation and tech advances so any type of modern in-situ oilsands is typically far cheaper per barrel all said - and that's saying a lot considering it's ~2-4x more CO2 intensive and we have a escalating carbon tax factored into that. Conventional oil basins age out way faster and they typically end up relying on "water flooding" aka 90%+ water of the total pumped mixture (this automation also explains mass job loss in the industry over that time).
There is liquid oil offshore Newfoundland and Labrador.... Just sayin
@@djsnowman06 Also a major industry in Sask is conventional oil drilling and extracting.
As far as working hours:
In Alberta, people working in oil work minimum 40-44 hours per week which is the standard. A lot of people in labouring positions work 40-60 hours a week. Some people working 7 days a week 12.5 hours, which is the standard full overtime week are doing 87.5 hours per week. If people are pulling in 16 hour shifts it can be over 90.
the standard is 12 hours, or more. Hardly no one works 8 hours unless it is a warehouse job. As well being on call 24/7 with very little for time off requests
Two things to consider 1- Just because people work a lot by Canadian standards doesn't mean it's a lot by standards in countries with little to no labour laws. 2- Alberta gets OT pay once someone clocks over 44 hrs a week- Which is probably a much better deal that what most ME countries have. I know Alberta has this weird victim mentality thinking it works the hardest and gets shafted the most in its provincial culture- But it greater context, Alberta as far as oil producing areas in the world go have it pretty good.
@@m.a.118 Alberta does get shafted, mor0n, they basically have to subsidize the rest of the country by themselves.
@@capybaraponque611 even when oil price crashed?
@@ylstorage7085 Yes, even then, sadly.
Also, keep in mind, due to stringent rules and regulations, any petrochemical spill over 20 litres is considered a 'spill'.
So if a rookie leasehand accidentally knocks over a pail of varsol while they are cleaning, it's logged as a spill.
Canada needs to stop importing oil and start using what we produce for domestic needs. Importing oil to eastern Canada and refining Canadian oil in the USA only to import it back into BC does little for our economy. This was Germany's plan for the last 20 years and now it's all falling apart due to the war in eastern europe. You need to address your own needs first to safeguard your own future. After that control your exports to balance your imports with excess oil production. The remainder of the economy will provide for the economic growth as oil becomes less important as an energy source for the movement of people and the transport of goods.
They did try to build a pipeline to eastern Canada
@@jameson1239 Quebec said: "No thanks! Tankers from Saudi Arabia up the St. Lawrence is much better than a pipe from a dirty Albertan!"
@Kill Me Need is a strong word... what's so wrong with the collapse?
@@StinkPickle4000 it's the best thing we had to do. There is more CO2 emissions and negativ environmental impact with petroleum from Alberta than Algeria. In Quebec, our natural ressources is water and we won't scrap it so Alberta can export it's dirty oil 😊
That means closing 3/4 of the industry down.
For a bit more context, the province blocking pipelines to the Pacific is BC, the origin of Greenpeace and generally really environmentally conscious. There have been a number of cases of industrial sabotage by environmental group on energy projects in BC.
It's also rugged terrain with little access for large swaths of territory making it expensive to build and challenging to deal with pipeline leaks. The other possibly bigger issue is the drastically increased oil tanker traffic on coast, which is notoriously difficult to navigate.
That being said the TMX upgrade is 100% happening and has been under construction for years. But any new pipeline is virtually impossible. It seems very unlikely that a BC government will ever agree to it. There is no real upside for BC and so much to lose.
It's not really the BC government. The big thing blocking it is native bands with claims on the land the pipeline is supposed to go over.
Some of them are doing great work spearheading legitimate environmental concerns that've been completely ignored, and some are blocking it because the federal government still seems to think that small town northern politics happens in good faith,and they're taking full advantage of it.
The provincial government has pretty much no sway in how these things go at this point.
THE REAL REASON IS, oil money will fall, and big company losing money.... Too much oil is bad for business
@@BodohYono the federal government bought the pipeline so they could force is through massively over budget, and they're probably gonna sell it for a loss, losing us money, subsidizing an oil company in the process, and none of the money will go to anything green.
that's why keystone xl was so important for alberta and canada.
@@BodohYono yup, and that's why the original financiers pulled out and the government and taxpayers are footing the bill instead. Yet Albertans are still pissed like a bunch of whiney babies.
canada has tons of traditional drilled wells. its not just tar sands
Yeah, but the enormous reserves are in tar sands. Something like 95% of Canada's reserves are in tar sands.
I'd bet 99.9999% of Canada's oil reserves are undiscovered.
3:36 minimum wage is 48k riyal = 12800$
but aramco entry level package roughly starts around 108,000 riyal = 28800$ it's considered very good
as an entry level career since the cost of living is much lower than canada and US
He is a west dog who only wants to propagate the west's holier-than-thou crap.
Or else they have nothing, even their societies are dysfunctional.
They need God
Which entry level job are you looking at? They hire South Asian migrants for much much less to work on much of the operations
@@frodo.2nd low skilled low income migrant workers work typically in the privet sector for mainly service jobs , Aramco is employee are %90 Saudi and the other %10 are highly skilled highly paid expats , my whole household works in Aramco , you’re misinformed unfortunately.
aramco only hire saudis because they the most experienced & highly skilled and educated
and they receive 35000 - 40000$ yearly it's well known for saudis that they get paid very well.
@@frodo.2nd nope oil industry require high skilled employees to maximise the profit, south asians are well known to be cheap low skilled labor which won't come in handy for giantic advanced company like Aramco! they only hire saudis because they are highly skilled in administration & oil extraction as well as petrochemicals
95% or more of Saudi Aramco are Saudi citzens.
Learned a lot about our oil Sands here, thanks.
It is certainly a touchy subject here in Canada.
Only a touchy subject for the virtue signallers out east.
@@hightechredneck8587 Gee I wonder why nobody likes Alberta.
@@mikeb5664 And that is why People want to separate from Canada
@@hightechredneck8587 Alberta wants to separate ever-time they lose an election. We live in a fucking democracy. Only children cry when they don't get what they want.
@@hightechredneck8587 good luck with that lmao
I can see why they wouldn't!! Lots of moving parts of the world and they don't want to risk losing all of their resources by selling them to other countries!!
Yeah, plus it wouldn’t exactly give them a good reputation
@@LogicallyAnswered why as a Canadian would I care about my countries "rep".
Food in my belly. More money in my pocket. That is all that matters.
3:47 what you said about wages in Saudi Arabia is completely wrong, you have to take into account the cost of living, taxes, etc. in Saudi Arabia which is significantly cheaper than Canada.
The second thing is that most people in Saudi Arabia do not actually work in the oil sector, The oil sector pays a premium as it requires specialized workers. This makes cities like Dhahran (Aramco HQ) one of the highest earning cities per capita in the world.
Ah cost of living is true
Yup sadly overlooked
Tells a lot about this biased channel's credibility
@@mohammadfatahillah8290 It really doesn't :p
Don't assume propaganda where simple mistakes can easily explain the error.
Also, people buying oil aren't going to pay more for Canadian oil just because their cost of living is higher. It doesn't make your oil any more competitive. It's great for Arabian workers, but that's it. The argument that Canadian oil is less competitive because of high labor costs still stands. Aramco can take petrodollars and pay a smaller share to workers, keeping more for profits and investments
@@Ramschat i can say in kuwait where i live the starting salary for oil is about 60k we dont have taxes so u will get the full amount if you worked for 20 years you can expect to get up to 200k a year
This video has done some great work on showing how Canada can become a more important player in the oil industry globally. One minor correction, for producers in Canada, break-even is NOT $100/barrel (either US or CAD). It's evident in many producer's financial reports that are publicly traded. Also the "discount" is not something agreed to by US/CAN, this discount changes over time and again due to the fact that the oil is still slightly different from WTI. What they're referring to is WCS crude pricing.
Currently working oil sands as a mechanic. The price per barrel that keeps my job is $60. Anything more than that usually results in OT being wide open and extra bonus pay like LOA and retention bonus. Any less than $60 a barrel and you are more than likely looking for work elsewhere unless you work for site.(Suncor, Imperial, CNRL, etc)
@@Braviary01 WTI? I know of newer highly automated in-situ sites that are in the range of $20 break-even or less but I suspect that's WCS heavy and not WTI
Wrong. Suncor produces for around $15 a barrel. We just don't have the boom we used to because $100/bbl is top much profit to sit idle.
Since 2015, the companies have gotten much better at lean production. Anyone who told you $60 was incorrect.
The big outfit manged at around 10 to 20 but that was major cuts and probably break even
It's higher then 100$. The only way its profitable right now is because we don't force them to clean up the mess they make. The largest toxic lake in the world is in Alberta. It's only one of the hundreds of ponds the oil industry has created. They don't even know how to clean it up.
As a Canadian who works in the oil sands; politics play a huge role, pipelines end up waiting for approvals from politicians. Quebec’s mayor held up a pipeline that would’ve brought oil to the east coast of Canada, now the east coast gets oil from the Saudis.
First part is true but quebec gets its oil from the us
@@unqueb sorry, should've been specific. When I say the East coast, I mean the maritimes, which import from the middle east and Africa. The Irving refineries in the maritimes were willing to process oil sands and invest in the equipment if the country could build pipeline to the East coast, it never happened.
Importing from the US doesn't make sense either since we have larger reserves and proven technology to process Canadian Oil. Suncor's largest refinery is in Montreal, I'm sure they would love to process their own crude from Alberta.
as an albertan, this is just sad
Very interesting video! Thanks for publishing it.
Thanks Hozelito!
Brother, glad to see another video of yours!! Hope you have an amazing week!!!
Thank you as always Daniel!
The US want Canada to not export their oil to the rest of the world because having the Canadian oil for themselves, is an energy security issue. Also, it's cheaper if it's not exported.
Smith, that isn't the reason
I believe the US is the only country in the world that can handle and refine the heavy crude coming from Alberta.
Is that not smart? and would help North Americas interest in general having energy security.
As if Canada would exist longer than 3 hours without the complete security from the US
@@roudyman777 Other than polar bears, there isn't much of any threat to Canada. Russia isn't very capable of anything, they can't even handle Ukraine.
@@roudyman777 Yawn, so boring. Why do you yankees have this power fantasy of us getting "wiped out". Too much movies and video games for you chuck
LOL! 3:15 "Even if we look at the lowest 5% in alberta there still making $15/hr" That is minimum wage in Alberta. They literally can't make any less.
Logically "You See" Answered...I love your videos. Great work man.
Hahaha, thank you Shakerboi!
"you seer"... lol
Canada not overly relying on its natural resources is a good long-term play. Otherwise, it's entirely dependent on commodities and more reflective of a third world country, not a modern service based economy.
Loool no its not lol.
@@npcimknot958 I'm gonna safely assume anyone who uses "Loool" in a sentence twice is not gonna have a clue about economics.
The thing with canadian tar-sands oil is it's operated mostly like a mine.. So while the initial costs to develop the mining project are very high, the extraction itself is more modulable compared to conventional pumps. When the price of oil drops too much, you can just stop extracting the sand, reduce production, lay off some workers and rehire them when conditions get better. This way the project becomes extremely economicaly viable as it is way less exposed to volatile pricing than conventional oil. when you look on the longer run say 40-50 years, production costs management will make the resource waaaay more profitable than when you look just on a short timeframe of oil prices for any given year. IMO this is the main reason why Canada doesn't produce that much oil : Because it can afford to wait to produce it only when the time is right.
oilsands ... tar is Californian and Venezuelan oil
Only a small fraction is mined. Most of the Athabasca oil sands is much deeper underground and is extracted with SAGD.
Wrong. You can't just stop heating up the tar all of a sudden in the same way you can't shut down integrated steel mills for short periods of time.
Canadian oil sand is only profitable because we don't ask company to clean up the mess. The industry itself estimate the cost of cleaning up the current ponds at 100 billions. The government estimate it would be over 200 billions. They fist need to figure out how to extract without creating this mess and than maybe they could think about growing.
They have the costs of production down to around $23.50 a barrel now at some oil sands production units.
Wildlife photographer Amber Arbucci takes Jay Leno for a ride in a Bollinger Prototype. This electric, ultra-modern vehicle is ideal for taking pictures of wildlife. Catch the clip and don’t miss “Jay Leno’s Garage: Off-Road Adventures” Wednesdays at 10P ET on CNBC. Amber Arbucci and Jay Leno Off-Road in a Bollinger Prototype | Jay Leno's Garage ruclips.net/video/923VS-bUn3I/видео.html Mullen + Bollinger (with history) - BOLLINGER MOTORS ruclips.net/video/HFb4h7izuZo/видео.html Mullen stock - 7 Catalysts (muln stock news) ruclips.net/video/62MQ7C09YLM/видео.html
The onlything stopping my country from beeing oil rich is the government. In the 1970s in Alaska, the USA built a road into the middle of Alaska, hundreds of miles from any town through insade and freezing cold conditions so oil companies could drill for oil. On the first road it took truckers nearly a whole month to just arrive at the location so they could begin building the oil rigs. Highway from hell TV show is the second road they built and that is stilled used to this day. Bs it's our geography, Alaska is as harsh as anything we have here in Canada
Love the pindrop silence at every segment of the video... gives me chills hehe
good video+topic..
.keep it up brother and take care of your health as well.....Cheers to many more vids
Thank you Rudra, really appreciate your support!
3:36
The 36,000 so called average laborer salary was based on (1) salary only😂🤦🏽♂️
Not to mention that Aramco typically pays like 5 times more than the national average. I personally received a job offer from Aramco as entry level graphic designer, and the offer was around 96k usd, plus buying me a house and financing it to me interest free, healthcare insurance for me and family, transportation allowance, paying for my children private school if I had any, and many more benefits that I don’t remember.
True if the worker is European or North American but if you come from Asia your salary is very low. As they pay based on passport (nationality) and not based on position. And it's not like there is a union to protect the workers either. As you work in the "office" got on the ground and go talk to Filipinos, Indonesians or even Indian workers and ask their salary. Then you can pass comment on the "real" realities, What you are paid is not what the majority is being paid.
@@robert-antoinedenault5901 bro chill out, first I’m Saudi not Europen. Second, you’re missing the point on how generally Salaries are paid in Saudi Arabia. Since Expats come to Saudi for work only, not as immigrants that settle, They get paid based on how much they used to get paid back home, the money would be a lot for them when they go back home. Globally speaking, Salaries for the same position is different from a country to another due to currencies and life expenses differences. For Example, If an American and an Indian have the same position in their countries, the Indian would get Paid $1,000/month in India but the American $10,000/month in America. If a Saudi company offers a job with 4,000/month which’s what a Saudi would get, that would mean the Indian would get 400% increase while the American would get 60% decrease in income, which would prevent the American from working in Saudi Arabia. If the Saudi Company offers based on high income countries like $15,000/month in order for the American talent to come, the Saudi would get around 400% increase and the Indian would get 1500% increases in income as well, which would never make sense financially to any company to do.
In conclusion, In order to recruit a Westerner, he/she must have an extraordinary talent to justify the high cost of his salary over his peers. If the extraordinary talent could be found locally or from cheaper countries the westerner would never be hired unless he acceptes less than average salary compared to back home.
@@al3ndlib but that create a class of worker virtually incapable if buying neccesity object like food clothes medication and transportation from work to sleeping place, or going back home one day
@@sotch2271 in Saudi Arabia all jobs has to have healthcare insurance for the worker and his family including his mom and dad, housing allowance, and transportation allowance. These are considered basic benefits required by Saudi labor law. However, most jobs offer more than that. As for some expats, they get a home and a car instead of getting allowances. Some of the “labors” get three free meals daily.
@@sotch2271 in Saudi Arabia, there are 2 types of expats. The worker and they get paid alot even if they’re from poor country (they have talent). Second, the laborer and they don’t get paid a lot, however, they usually have no specific skill other than the will to work. Usually, they dont get paid half of that back home if they ever had a jobd. The laborers love working in Saudi Arabia as it one of the only places that offered them a real opportunity and gaves them double the money plus free basic benefits aforementioned. So don’t feel bad for them working for cheap, feel bad for them not working back home or not being able to immigrate to the west because the west don’t accept anything less than a talented educated middle class.
Canada should be one of the richest country on the planet with all it's natural ressources but the governments want to be so eco-friendly that we leave all this untapped potential in the ground.
Quebec is filled with rare minerals and liquified natural gas, yet the government passed a law to make it illegal to exploit LNG.
3:51 "fewer working hours per week" 😂😂😂
Like 100+ hours/week bud
As a Canadian, this comes off as a PowerPoint from an oil company looking to drill in the oil sands. It’s not a bad thing that a country will lose out on “progress” in the oil industry if it’s at the benefit of the environment. Most Canadians agree that they should protect and help the environment, due to just how rural most of the country is and how close they are to the wilderness at all times. Also, there are oil reserves other than in the Albertan oil sands, however they are mostly under the permafrost.
Under the permafrost? Permafrost usually occurs at about 5’ but rarely exceeds 10’. The oil is much lower than that my friend.
You have zero knowledge on this lmao 🤣
And tech is evolving, we might dicover better tech to extract it less dangerous. Its smart to wait.
How did you miss the cancellation of the Keystone XL pipeline by Biden on day one? This was a huge deal in getting our oil at world prices. So instead of building another pipeline (Quebec opposed it) to eastern Canada where there are refineries and oil production in the ocean we buy Russian Venezuelan and Saudi oil from autocratic countries with zero human rights, in eastern Canada… It’s crazy
@Rich In Vancouver Keystone didn't have a much of a chance of being built, before Biden and cancelling it was the smarter move. Even many of the companies involved where only there because Canadian Government was putting money into the project. Many states were against it, environmentalist were against it and it had very little public support and lots of public opposition. The big problem with pipelines is that they leak and Bitumen is not something that is easy to clean up. That other big problem with Keystone XL, was that the economics where not on its side.
It is true that that East Coast buys Oil from unfriendly countries, but building pipelines is a non starter. No one with a brain would even suggest doing something like that. Not to mention the Country is transitioning to EVs by 2035 and by 2025 all New Car sales in China will be EVs. It is too late to build Pipelines and have them be profitable. The numbers never worked not then and especially not now. Renewables / Green Energy is a much better bet for Canada. It has the technology and expertise to be a World leader in Green Energy Solutions / Technology.
USA cannot afford to export, that's why he did it. You guys have oil, figure it out already lol.
"autocratic countries with zero human rights" that strangely sounds like Canada 😂
The biggest problem most people aren't aware of is political. Provinces like Québec are heavily invested in Saudi Oil. They are also powerful politically and work against the Prairie provinces oil development.
Yup, BC's a prick and tries their hardest to keep it out, Biden killed any hope instantly, going north is too costly and QC is just QC
Canada is about to be a huge provider of LNG, gas is about as bountiful as oil in the country, and new gas fields are being found. The first major terminal should be up and running by the middle of the decade. I can vouch for this as I personally am working at said LNG terminal. Canada also has great mineral and metal wealth.
I personally believe that Canadian oil and gas will eventually be more just gas than oil. Alberta oils are in a difficult situation for anything but domestic markets, and investment into it has been hesitant. While not all alberta crude comes from oil sands, 39% of extracted crude is bitumen, while another 28% is synthetic crude produced from bitumen. Only a third of extracted crude is not bitumen or sourced from, which means options in canadian oil are very limited. With the decarbonizing movements, power production will more heavily rely on natural gas plants to keep up with the fluctuations of renewables. Canadian gas can fill this role for north america and europe as it is a more ethical source for gas and western nations have very good relations.
@Mike Tyson kitimat lng is almost finished.
Why can’t people realize that expanding the oil and gas industry in any form is the opposite of what any developed nation should be doing right now.
@@mattkrumm8141 Inlet gas facilities, non process buildings, about half of Train 1, main storage tank and much more in place. Marine base in place and energized, most substations in place, trestle is only about 70m gap. Though commissioning and startup will take almost a year, but it's coming along and hopefully catch up to delays caused by Covid.
Is Kitmat hiring?
Thanks for the resources pastebin, super helpful, for that alone you get a like :)
Because our politicians are horrible
Wise Canada is letting OPEC+ use up its reserves while saving theirs & with a low population/consumption than America. Canada/Australia has good resource per population ratio
by the time they "want" to drill demand will shrink
Because our Politicians are focused on Environment and votes. The idea of them stepping outside their comfort zone is unfathomable.
Monsieur Labbe This is why the current Liberal/Communist party needs to loose all their seats in the next election! I personally intend to vote PPC like I have in the past two elections, but the new leadership of the Conservatives also have some good points, just not as many. Trudeau is a globalist and really wants a non elected World Government and its is the people who need to see this does not and cannot ever happen. Canada needs to not only ban the WEF influence but needs to get out of the UN as well.
as an Albertan worker in oil industry, I would say Canadian oil industry is depending on U.S. and Canadian governor. 1st, Canada lacks of pipeline to export oil to any other country than U.S. Since the canadian oil are sold to U.S at a huge discount, as U.S. are the only customer. 2nd, Trudeau government is killing this industry by limit exporting capability. Before Trudeau was elected, the previous gov was proposing ENERGY EAS, TRANS MOUNTAIN EXPANSION AND NORTHERN GATEWAY pipeline projects to diversify export capability to different customers. Sadly, Trudeau killed 2 of 3 project to help industry to grow. 3rd, with Trudeau's extreme money-grab tax carbon tax, the foreigner investors are running away from oil industry in Alberta.
Trudeau is a hole full of water in french whoich summarizes his IQ
Trudeau did not kill the Energy East pipeline it died when changing market conditions ment it was unlikely to ever pay for itself. As for Northern Gateway, Trudeau did kill that one but it was never going to pass an environmental review. The terminal was going to be at Kitamat. To get there tankers would have to pass through three nature reserves and a long winding fiord. I don't think it's possible to find a worse place you could put an oil terminal on the entire BC coast. Also you are not giving Trudeau the credit he deserves for the Trans mountain expansion which he pushed through despite BC's objections.
However, one also has to face the idea that while the previous government may have proposed more pipelines, there is no indication that they would have been successful. The opposition to all 3 pipelines would still have existed. Unless the previous government was prepared to strong arm the people then Trudeau changes very little in the grand scheme of things.
That's okay we should all step away from that like we did from coal. Time's are changing, just change vocation. I did so in the mid 2000's when the USA banned Canadian lumber and we lost over +75,000 Canadian workers (direct and indirect) from East to West. Anyways we can live without oil from the oil sands. We have enough resources to supplement our own needs. Oh and Justin Trudeau has little to do with the cancellation of these proposed pipelines. All the Eastern provinces have voted against it, BC has also given Alberta grief and Joe Biden has expressed himself. The only recommendation I would have is; why don't you guy's put refineries beside Calgary and just supply by train like you already do.
@@slowjamsliver7006 well trudeau sure strongarmed the truckers so they could just arrest the protesters against the pipelines. but he's a disaster like his father.
The problem is in Canada we have an issue with a dangerous new way of thinking that runs all the way to the PM's office . This thinking is that the oil should be left in the ground and we should all embrace an electric future . Even though we are not in any position to move forward with this .
Most of the information given in this video is incredibly wrong. Canadian Oil Sands produce Synthetic oil, highly desirable for most refineries and they do so for profit at Crude prices less than $50/bbl … The oil sands do take a higher environmental impact for producing the oil than the conventional crude, but the end user is then saved from that impact … it is generally better for Canada to take this under our more strict environmental regulations then to allow another area to do it under looser ones. Just a little research further than the headlines of the anti-oil propaganda would have helped this video tremendously
He lost me at “100 years ago the Middle East was empty”
“anti-oil propaganda” yea… because it’s not like oil companies have been lobbying our politicians and made our world revolve around them through informed science on its long term impacts
@Jwalkin Your information is not correct... the Oil Sands do not produce "Synthetic Oil", it is "light synthetic crude oil (SCO)" there is a big difference in terminology. Synthetic Oil is a manufactured lubricant.
As for Canada's strict environmental regulations, this is true so a certain degree, but that process of Oil Sands extraction is an ecological nightmare. The video only showed some of the problems created by extraction. There are pools of Oil Sands Water that is dangerous to the Eco System, that isn't coming from an environmentalist, it is coming from a Human that has seen the OilSands WasteWater that has been pooled for decades, because there hasn't been a safe way to treat it, so it could be released back into the ecosystem. A little research would show, this is not anti-oil propaganda, but something that Industry and Government(s) have been struggling with for decades!!!!
What many people are not aware of, is that the Canadian Government has to invest money into Oil Sands production, to keep it going, when Oil prices are not high enough. Oil Sands are an ecological and economic nightmare, when prices are low. Let's not forget, Iran and Venezuela are not really producing a lot of oil on the World Market, when those 2 countries come back online, we could see prices plummet, especially if the World starts to reduce Oil consumption as forecasted. Canada and Alberta should plan for a transition away from Oil Sands production, to a much lower level and sell the Oil on the Open Market and not just to USA at discounted rates.
@@tonespeaks great point here it’s a hugely unknown issue by the majority of the public just how much of a pollutant the refining processes can be and they have left many first nations communities without access to safe drinking water
Strict environmental regulations. lol. Currently the industry just dump its toxic waste in pond. We currently have the largest toxic lake in the world. There are hundreds more. Even worst no one knows how to clean it up. If you would force the company to clean up after themselves. The cost per barrel would be higher than 100$.
You mention infrastructure underdevelopment; part of the issue is that refineries are highly localized and it often makes sense for population centres not near the oil sands (i.e. much of the population) to buy from US refineries, who capture a lot of profit.
The overall energy trade b/w Canada and the US includes :(crude oil ,refined petroleum products ,natural gas ,electricity, coal,uranium,ethanol)
The USA imports from Canada amount to $75.62 Billion USD
Canada imports from the USA $19.64 Billion USD
It amazed me that when he said pipelines have “harmful effects on local populations” (those near pipelines and extraction operations) he showed an image of an American suburb. Unbelievable. The people there are the First Nations (‘American Indians’), and rates of illness in a dozen or so of their communities is astronomical (upwards of 3x higher than the national average) as a result of the pollution.
alcohol and Tabaco?
@@andrewphillips5559 no running water or access to healthcare....
Oh horseshit. The pipelines aren't hurting anyone. There are pipelines all through Alberta and nobody is getting sick from them.
There are oil wells Pumping right now in Downtown Los angels and has been there for 80+ years . Fancy houses and businesses all around them. Natives have the highest rate of poor health no matter where their located. Alcohol,drugs and high rates of suicide plague them more than average even if they live in pristine environments.
@@digger105337 Yall need to get educated. im native myself and i notice it's mostly natives with trauma that do drugs and alcohol. I'm breaking the cycle of it. my grandparents been through residential School and had got trauma and that really affected them and my mom. Canada just treating us unfair. Learn more before u judge or u just like to hear what the public says.
This video fails to mention the governmental red tape in the way of any and all production for every business, oil company or not. Not to mention the extremely high taxes levied on workers, businesses, sales taxes and taxes on property. I'd say the inability for oil companies to turn a profit up here would entirely be the fault of federal and provincial governmental policy.
Trudeau killed our energy industry. Canada should be energy independent, no excuses. We also need a strong leader who will secure and develop the northern passage. It is our sovereign right as Canadians, and will allow Canadians to prosper for generations to come.
We Americans are such great neighbors, we have shown such great restraint not to invade our friends to the North.
1. You would lose
2. If you win, you couldn't handle our awesomeness.
The American gov't and oil corporations have thrown up significant roadblocks to keep Canadian from finding its way to international markets. This is actually the main power behind environmental obstructions.
The same corporation who are exploiting that oil, all big players in Canada are USA own corporation.
I understand why you pretty much only spoke about the oil sands since their the most well known, but there are also different types of oil wells in other provinces. For example, Québec has wells of natural gases in the Saguenay-Lac-Saint-Jean region, but the projects to extract them has been completely renounced recently as part of environmental engagements by the provincial government. Besides, many provinces decided to not allow some pipelines to pass through their territories for ecological reasons too, so it can make transportation inside Canada even more complicated.
There's a city in Ontario called "Petrolia" and there are traditional oil pumps everywhere.
we’re happy with what we have already these projects affect more than you realize. It helps some people out but there is always 2 sides of the story or situation. America does not care to help and they got Canada in their hands there’s more to it that’s we’ll never know about. You need to understand pipelines want to be placed in certain areas where the government of Canada isn’t even aloud on because they don’t see these people as citizens and these places don’t even have running water or electricity and is working like a third world country. People want more but ur country fucked over their own and knows they did and they know we all know this. First fix their problems they have been putting off for decades. Canada has bigger problems they haven’t even got close to fixing and other countries they are in debt with are getting impatient. if you think they aren’t working with other corrupt parties you’d be surprised. America doesn’t even want to help so the English and French leaders of Canada are getting no help and are getting used from bigger organizations with other countries of Europe and Asia. These pipelines will be placed when the person dealing w the cards want it to be done. It’s all a game bro
The lowest wage in Alberta oil sands is closer to $25/hr but most oilfield works here work 60hrs a week and up to 16hrs days and sometimes 24 days straight with only 4 days off.
Truck aint gonna lift itself
I am from Alberta which has most of the oil in Canada. Albertan wants to export more oil, but the some part of Canada and the current liberal government is doing almost everything to kill it.
Planet Murder!
@@chrisklugh You're right, big metal tubes are very scary compared to the diesel locomotives they'd be travelling on otherwise...
What are the liberals doing to kill Alberta oil production?
@@hhiippiittyy Cancel pipelines and annex the oil and gas industry all together as quickly as possible. No smooth transition or anything. Jobs will be killed and not given a chance to transfer over. I don't think many people are against clean energy, we are more concerned about our cost of living and our ability to have good paying jobs. With oil and gas being given a lesser and lesser priority as the months go on, more people are out of work, and our local economy gets worse and worse. Our power grids are not being updated and upgraded for the incoming flourish of electric cars which will be the only means of personal transportation able to be sold in just over 10 years, we are not investing into clean energy from powerful electricity generators such as nuclear. There is little being done, except for the narrative of 'cancel all things oil and gas'
@@brandonfriesen5389 Your right. But what about the carbon we'd be unleashing from the ground and into the air. That is far more scary then all the oil spills in all of history.
The bit where it said "at low prices" is killing me 🤣
Yes I laughed at that too. Canada has both conventional oil and oil sands oil. Alberta has 8 different oil types. For example Syncrude Sweet Premium sells for $89.60 per barrel today vs WTI at $85.88. Then in Newfoundland and Lab. their oil is Brent crude.Canadians only look at the price of Western Canada Select (WCS) which is currently $63.85. There is a big discount for WCS as it is heavy oil with condensate mixed in so it will flow through a pipeline. But even at $63.85 Canadian oil companies are making serious profits.
This video is a bunch of bs, I've worked in the Canadian oil fields for 10 years.
Fort hills one of the biggest and newest sites has a hard dollar operating cost of $25 per barrel. I know that because a high up exec told me personally.
Now for the wages argument, what's the cost of living in Saudi vs Canada... there goes that argument.
The main reason for Canada not being a Power house in oil, is political officials stunt the production and refuse to refine in Canada and send it over Seas as crude.
Plain and simple they don't like the "dirty oil" even though Canada has one if not the top standards on the planet.
About the Trans Mountain pipeline expansion, tis would mean a pipeline running through a heavily built up city, the city where Greenpeace was founded. To load oil onto tankers in a very narrow and restricted waterway. The plan requires shutting down the only real west coast port Canada has for an hour every 23 hours. So foreign oil companies could make the profits. The people of the Vancouver region would take the risk.
Canadians do not care about the companies losing out on profits as almost none of the companies involved is Canadian. Whenever a Canadian company reaches a certain size, it is almost always bought up by American or other foreign companies. Hence, the profits are declared elsewhere and not taxed in Canada. Canada and Canadians get the mess that is left behind but the people get a relatively small amount of wealth.
As well, we actually care to leave some resources in the ground for our descendants. We feel little need to dig out all of out resources for short term needs.
I could go on. But it comes down to being wealthy enough that we do not need to rape mother earth any more than what we need to cover our current expenses. We do not see the profits, so you tell us Canadians what is in it for us. We already have enough mess of abandoned oil infrastructure in ALberta where the foreign owners have left us the highly polluted mess.
I'm curious which "wealthy" province do you live in and for how many years did it get equalization payments, IE Albertan oil money, to pay its current expenses?
@@nilloc93 BC has not taken equalization payments since before AB was producing oil. We don't need the risk, money, or pollution. There are better things that Alberta should be focusing on, beyond buying another F350.
@@Nick-ft8dm Touchez F350 lol
how you liking $2 / litre ? understand yet that oil is production power, means wealth? Long live cheap energy, still another 2 Billion people to lift out of poverty to go. That's what at stake here.
US be like "do you want some freedom
I understand you had a time limit for this video but a LOT was left out. When an oil company is done with an Oil extraction site they have to clean it and put it back the way it was before or in better condition then when they started, which is a high end of life price for any project. Another big issue is the lack of refinery capacity within Canada, lets just say there hasn't been many new ones in the last 30+ years... One of the reason for the discount on Canadian oil is that not all refineries are able to refine it. If we could refine the product in house, it would make it much easier to export, and we could charge a LOT more for it. But you know, that wouldn't be in the best interest of everyone, after all, the company that owns the right to the product use to dilute Crude oil that allows its transport via rail would have a lot to loose if new refineries or pipelines were built. But that would never happen, we're just talking about Berkshire Hathaway, they would NEVER do such a thing. lol
@240sxcollector It isn't easy to ship refined Oil products.. very expensive. One of the reasons for the lack for refining is the cost to build refineries. Let's not forget it cost a lot to get the oil out of the ground, add refining costs on top of that and it would exceed what many countries would be willing to pay. The bottomline, is that Canada's Oil is expensive to extract and is expensive to the Eco system. Canada would be better of investing that money and energy into Green Energy Industries and technology, that is the future, Oil will have a more limited role going forward.
@@tonespeaks You are full of baloney. There isn't a green energy industry that makes money without government subsidy.
Nuclear power.
There is plenty of refining capacity in Canada.In fact Canada exports about $10 Billion in refined petroleum products mostly to the US.The Refineries in Alberta ,Saskatewan and Manitoba all use WCS as feedstock.The only area in Canada with a lack of refining capacity is BC.But recently they announced that the Burnaby refinery will be expanded to allow for more capacity.Currently BC imports both gasoline and jet fuel from the Washington refineries during peak demand periods. The current Trans Mountain pipeline can batch ship so Alberta supplies both crude oil and finished gasoline to BC via that pipeline .BC's other northern small refinery uses BC domestic oil. The refineries in Ontario use a blend of upgraded oil from Alberta and import light crude from the US. The Ontario Sarnia refinery has a direct pipeline from an Alberta upgrader and uses that for it's feedstock. The 2 Montreal refineries use upgraded oil from Alberta via pipeline and tanker oil mostly from Algeria,Libya and middle east. The Irving refinery Canada's largest refinery uses Saudi Arabia light sweet crude mostly but brings in some WCS from Alberta by rail. Actually Alberta recently built a new ultra low Sulphur diesel fuel refinery . But you are correct that in the past 40 years hundreds of small refineries have been shut down in North America. Refining oil is a low margin business so you have to have very large refineries to make money. Forget about refining oil in Canada to ship finished petroleum products to the world. They want your crude oil not finished petroleum products. The cost to build a new large capacity refinery would be in the neighbourhood of $15 to $20 Billion ,plus about 5 years of construction.Who would build it? That new smaller ultra low sulphur diesel fuel refinery in Alberta came in at $9.3 Billion! The US has the refined petroleum market wrapped up with huge refineries on the Gulf of Mexico ,mostly in Texas. The basic reason that the Eastern refineries having to import light sweet crude is that is what they need to make a lot of gasoline which is the product in most demand in the areas they supply.They have retooled to accept some upgraded Alberta feedstock but they need light oil to operate. Plus Canada has a lack of pipelines and frankly it is cheaper to get in oil by tanker. Cost of shipping oil is a big factor.
@@don-cw1yz I agree with most of what you're saying, but to say that there is plenty of refining capacity is far from reality. When we went from producing about 1.7 million of barrels a day in 1990 to 4.7 million barrels a day now, with the possibility to increase it another million barrels a day within 2 years if we really needed it. All while the refining capacity has stayed around 2 million barrels a day since at least 2004, back when production was around 2.5 million barrels a day. In that 18 years production went up over 2 million barrels a day with no real increase in oil refining capacity.
But like you said, we do a have a huge infrastructure problem. Even if we wanted to send oil to Europe right now, the only real way we have would be to send it via the Gulf of Mexico. We just don't have the infrastructure to ship our oil from Alberta to other Countries, well other then the US, which account for 97% of our Crude export. If we could get pipelines created to allow us to move our oil more freely Est and West, building refineries able to refine Crude would make much more financial sense.
Didn't mention that natural resources in Canada are the property of the provinces. The federal government has very little control over what happens with oil, until it crosses a border.
The Feds can control it somewhat. Trudeau and the feds had the power to tell BC to stuff it and to tell AB to just build the transmountain, same thing for getting oil through QC, he just doesn't want to
"100 years ago middle east was a desert wasteland" what a dumb statement. You're talking about main parts of Saudi and some other parts. Mesopotamia and Persian empire are some of the oldest civilizations on the planet.
Great research, the one error I see is the $74 cost. Suncor produces at $25-28 and CNRL is shooting for $20
No its not that s the profit margin at a 100 per barrel . Break even is around 85 per barrel . You can find this through the financial disbursements for govt subsidies
Well Canada does have plenty of other energy resources as well so I'd say Canada has the potential of being one of the world global leaders in the world, ie Potash, natural gas etc etc.
Lithium and Uranium
@@Paul-vf2wl Those 2 go hand in hand and may be the next energy revolution. Uranium to make the energy and lithium to store it.
Canada has the highest standards of environmental protection extraction in the world. In addition they reclaim the land that is strip mined putting it back in the condition it was found. While this is good it seems to leave these important factors out.
That's what they say, except the oil sands have miles upon miles of tailings ponds where toxic waste is dumped in the open air. There is no serious reclamation going on.
Hahahaahahahahaaha Hahahahaahahahaahah Hahaahahaahahahaaa!! Where in the actual fuck did you get that idea from? Rebel Media?
Definitely the highest regulatory and and I'll add human rights standards with only Norway, Scotland, and Australia even in the conversation among larger players. That being said I find it much more useful to separate climate change causing emissions (which oilsands are a whopping ~2-4x more per barrel) vs everything else environmental. Pointing at strip mining, giant tail ponds (both in reality are very rare and frankly now uneconomical thanks to regulations) and pipeline spills (which have similar statistical environmental impact to building major highways or electrical transmission corridors) is like blaming Chernobyl alone for why nuclear stalled. Ancient tech that allowed for a much higher risk of human exposure and environmental catastrophe has little to do with the real modern complicated economical and political challenges like competing with ever-dropping solar (for power/cars) or just the public and market's understandable hesitancy in funding 50yr+ capital projects when no one really knows if the demand for oil will shrivel against "new tech X" over decades (or even over years) like lamp/heating oil aka kerosene, coal/steam based transit, or VHS lol
@@EdgarC701 Is that why the Fort Chip First Nation has such high cancer rates (many rare cancers) because of high environmental standards? Is that why the AB govt shoots wolves from helicopters? Is that why so many farmers have lost livestock from sour gas well flares? Is that why there are thousands of contaminated water wells from fracking that people can't drink from? Is that why there are thousands of abandoned well heads leaking toxic fuel and methane? Because of high environmental standards?
Give your head a shake.
My guy you just glossed way over the complex reasons why Trans Moutain isn't being built. Boiling it down to "political pressure" and "environmental concerns" is super reductive, I've personally worked on the project, and trying sum it up with those two statements is a total disservice to the people involved.
As a Canadian I say we are not the sharpest stick in the bunch
4:14 the break even cost for Saudi’s onshore oil is around the 3$ mark.
And the biggest problem...too much regulation.
Yup. That and idealistic naive people who make regulation.
@@hightechredneck8587 Better than ruining the country for short-term greed. Not sure Venezuela and Saudi Arabia are anything to aspire to.
It’s actually not a regulations issues but a lack of cooperation between provinces and heavy lobbying by special interest groups that hold them up.
We do have strict regulations but those are accounted for in the panning stages before ground is even broke.
Too many gatekeepers. Crimeminister Two-stroke being a huge blockhead.
The biggest problem for most Canada oil production is it take a lot of ENERGY to produce that oil. From what I have read what oil Canada is producing takes the energy in one barrel of oil to produce three barrels of oil. Venezuela has a similar problem with much of its oil reserves through Venezuelan oil is NOT as hard to produce as Canadian oil. Worse most of the Canadian "oil reserves" are similar to similar "oil reserves" in the US, it may take the energy in one barrel of oil to extract one barrel of oil from those "Reserves". In simple terms, unless you use nuclear power as the energy to produce such oil, you will have to use more energy then you will get from producing the oil. There are coal fields in England where a similar problem kicked in startng in the 1920s, no matter how mechanized England could make coal mining, the energy needed toget at the remaining coal exceeds the energy we would get from that coal (So the English slowly closed down those mines, accelerating it under Thatcher and a few years ago closed down they last coal mine).
Just because the oil (or coal) is in the ground does not mean it can be mined. It takes ENERGY to mine coal or produce oil and no one will produce that oil or coal if the energy to produce such coal or oil exceeds the energy we can get from such oil or coal. Most of the oil "Reserves" in the US, Canada and even Venezuela is believed to be that costly in terms of energy to produce to ever be produced.
Thus do NOT look at "Reserves" but the much smaller "Recoverable Oil Reserves" the latter will be more accurate as to how much oil we can produce (Through some accounting rules lead to a to small a number for "Recoverable Oil Reserves" but such numbers still tend to more accurate then what is called "oil reserves").
Please note under OPEC rules, each OPEC nation's ability to ship oil is based on they "Recoverable oil Reserves". When this rule was adopted every OPEC Member within a few years stated a huge increase in they "Recoverable Oil Reserves" almost up to the level of was believed to be they "Oil Reserves". Thus it is believed Saudi Arabian and Venezuelan are to high (With many outside oil experts having much more faith in Venezulean numbers then the rest of OPEC and that is especially true of Saudi Arabia). That appears to be a factor in the recent oil price increases (along with a boycott of Russian oil, Russia is NOT a member of OPEC but is either the number one or two oil exporter (Since the 1980s Russia and Saudi Arabia have been either numer one or number two oil exporter, whose number one and who is number changes but is has, since the 1980s, been Russia and Saudi Arabia).
Since at least the 1960s, the top three oil producers have produced more oil then the next ten oil producer combined. The top three oil producers have been Saudi Arabia, Russia (prior to 1989 the USSR) and the US. The US produced more oil then anyone till Reagan becam President (BUt not enough for domestic use, the US was a net oil importer from 1969 till about 2016 when the US became a net oil exporter again, but today, 2022 the US is again a net importer as Shale oil production has dropped).
Back to Canada. Canadian oil reserves while large are NOT belived to be recoverable from an Energy input, Energy output point of view. The same is believed of most US Shale oil production (The most profitable US Shale Oil Fields started to be drilled around 2006 when oil reached the price it had not been at since Colonel Draked drilled the First oil well in 1859). Thus most of that oil will stay in the ground with people crying why we do not get it out.
lmao, cool essay, but totally false. If they can pull oil from the ocean floor, they can pull oil from anywhere.
@@kaleidoscope3234 So you think beause we can use two gallons of gasoline to pump one gallon of gasoline, we will do it? That is the restriction, not that it can NOT be done, but it will take more energy to do so then we will get out of the transaction.
@@paulmentzer7658 that's a bit of exaggeration lol. You assuming the only energy source we have around is nuclear and thermal plants. You are also assuming the only mean to transport oil around is pumping them onto freight ships. Both of your over simplified assumptions are just plain wrong.
You think it doesn't cost energy to drill oil from the sea floor? It does, and by a lot, but people get those oil out and still return decent profit anyway. The problem is oil is limited and it is generally best strategy for any country to avoid tapping onto their oil supply as much as their economy can endure. If your country run out of oil you are at complete mercy of countries that still have oil reserve. That's why USA and Canada limited their oil exploitation.
@@kaleidoscope3234 The US and Canada HAVE NEVER RESTRICTED OIL EXTRACTION, the restrictions imposed has been economics. For example Saudi Arabia kept the price of oil more or less stable from 1973 to 2004 mostly at a price it would be unprofitable for the US and Canada to fully open up its Shale Oil Fields. Some experimental wells were drilled but that was all. Shale oil became profitable is when you saw massive drilling of shale oil (And other Oil, around 2008 I was visting Alllegheny National Forest and you saw massive oil wells being drilled, for while the Federal Government owned the forest and surface rights, private ompanies owned the mineral and other sub surface rights. It was a mess, electrical lines hanging from trees, not wooden poles, but uncut trees. It was a wet year so no massive forest fires butyou had electrical lines all over the place as people drilled for the expensive oil underground. Most those wells are now "dry" for the power needed to pump those wells was in excess of the power from the oil being pumped.
As to using other sources of power, yes it is doable, but it makes more sense to use that other souurces of power directly? I.e. use electrical power to propelll a vehicele, rathr then use tht power to pump oil to do the same job AT INCREASE ENERGY COSTS.
The remaining shale oil fields have reserves that equal less then a third of the energy needed to obtain that oil. That makes it porfitable but sooner or later you will hit the point where the energy obtained is less the energy produced and when that happens oil production for transportaton and heating will stop (There are thngs, mostly medicine, that is produced from oil and in such cases how much energy it takes to produce that oil is unimportant but such objects are ver rare when compared to oil used in heating and transportation).
@@paulmentzer7658 You don't have to restrict oil extraction when you're land locked. Its the export capability that is artificially capped.
Canada also has off shore oil just off the coast of Newfoundland . There might even be other off shore opportunities in other eastern provinces. I think that they would sell oil to improve provincial budget deficits.
Canada will get the last laugh when the world runs out of oil and they are not ready for it. 😂😂
Saudi Arabia has a lot of foreign workers from less well off places. At least partially explains why the salary is about as good as working in the food service industry for 3/4 of the year.
Oil production in Saudi is government owned.
Aramco do not hire foreign workers, most of low skilled foreigners in Saudi work for private sector.
Aramco only has Saudis and high skilled Arabs and Americans.
yeah but in private sector which doesn't require highly skilled workers, Aramco has extremely high salary 3 times more than US & other western nations also grants you alot of benfits like house & car allownce & driver, maid and paying for private school
family healthcare insurance This Job Require only Highly Skilled Worker, meanwhile south asians are known to be cheap labor because they are low skilled/ and need to be trained & educated
In the last decade we have lowered more then triple the cost for oil sand separation making it profitable now for us to remove it. The biggest factor now is the fact that we are aggressively trying to be more eco friendly and to mass produce our oil reserves now would be counter productive for our goals.
If you want to talk about the environmental impact you should also have mentioned that Alberta has one of the cleanest oil extractions in the world.
Man I love western Canada and I work in oil and gas and have for 10 years now but the oil that comes out of the oil sands in alberta are incredibly polluting compared to any sort of conventional oil. It's not even close to be honest. Canada as a whole? yes, but with respect to the oil that comes from the oil sands that's just not true. I'm not saying stop extracting it, but there is a long way to go before you can call it the cleanest extractions in the world.
Unless of course you're talking about the conventional oil that comes from Alberta and Sask.
I can answer the title in one sentence: People who know nothing are afraid of pipelines.
5:40 Its not accurate to say that Canada has not considered the option of exporting oil on the global market. The fact is that on both coats, there is a province that absolutely does not want to allow "dirty oil" through its jurisdiction. Alberta's oil is effectively landlocked. Worse yet, Alberta had an opportunity to export that oil. In the 80s, Trudeau wanted to use that oil to benefit the entire country. Alberta chose to be selfish. Alberta did not want to share the benefits of that ressource with the rest of the country. Pipelines definitely could have been built in the 80s. Environmental regulations were weaker, and the environmental movement was still in its infancy. In today's world, there's absolutely no way those pipelines are ever going to get built. Alberta's greed ended up costing them the only chance they had to get their oil to market. That legacy still haunts Canadian politics to this day.
Oil resources are provincial jurisdiction, so it isn't greedy for Alberta to keep the royalties from their own oil. If provinces like BC and Quebec would just develop the hydrocarbons they have, instead of forcing them to stay in the ground, then they wouldn't have to demand that Alberta share.
@@sagmilling As far as I know, the only oil that is reasonably recoverable in Québec is located in the St-Laurence Gulf. One of the company who had the licences failed to get its licence renewed in 2020. The whole thing has been a cluster f of mishandling. They clearly weren't ready to exploit anything at all. If anything, there's a history in Québec of small "newly created" companies pretending that there's oil to be exploited, that they know where it is, finding absolutely nothing and leaving a mess behind. They are a large part of the reason why there's a distrust of the oil industry in Québec. Serious oil producers know better and aren't going to come here to exploit a money pit.
@@sagmilling Why should Quebec bother with oil when everything is slowly getting electrified and the province happens to have super cheap electricity available?
@@sagmilling Alberta is the most greedy, self absorbed province in the country,
Great video. Some issues I had were the side statements that were made. There were some inaccurate statements, stating Venezuela has not capitalized off their oil due to corruption hardly tells the story. They were benefiting from it until the US implemented sanctions. Also, stating the Russia war causing oil prices to rise isn’t very accurate. It may have added to it, but definitely not the main reason.
why are there US sanctions? corruption.
I mean, for Venezuela, is it even really US sanctions or capitalization of their oil as just a total mismanagement of their economy because of oil? Yeah, US intervention may have accelerated and exacerbated the issue, but that was a house of cards with no foundation
Nope I think the extravagant social spending, and mismanagement of fiscal resources and the corruption of government had more to do with it than the US sanctions.
One thing you didn’t cover is the ocean oil industry in Newfoundland and the other Atlantic provinces
We are, though.
Most of Canada's oil wealth stays in Alberta because natural resources are under provincial jurisdiction. And oil sands are way less efficient, and harms the environment more due to the intensity of its refining process.
Also because our neighboring provincial government and federal government try their hardest to ensure it stays in AB
A better title with realistic reasoning: "Why the Canadian government, media and courts refuse to exploit their gigantic Oil reserves."
We have one of the wealthiest economies in the world without tearing up and poisoning our backyards... Greed isn't the answer to a future for Canada. I certainly don't want my province thrashed so that foreign oil companies can reap profits.
@@B-... How do you think Canada became one of the wealthiest economies in the world? By tearing up and "poisoning" the land
@@loganamurray64 If resources were the way to wealth these days, every third world country would be wealthy. You need to modernize your thinking.
@@B-... Resources are only the way to wealth if you can utilize your resources effectively. Having all the gold in the world doesn't matter if you can't dig it up or transport it, and that's Africa's problem, if they could fully utilise their natural resources Africa would be ridiculously wealthy. Just look at Dubai 30 years ago
Makes you wonder how the oil sands came to be .. was it a massive underground reservoir that leaked over thousands of years into the upper layers.. if so is it still leaking.. is there any left in the reservoir.. maybe a large ice cap pressed down on the land causing the leak and is now melted away.. would be interesting to see a map of the sands to see if there is a pattern from a central leakage point..
Ancient organic matter died and was covered by layers of sediment that exerted sufficient pressure and temperatures to transform the matter into petroleum (similarly to carbon and coal or graphite). migrated north where it became trapped in the huge amounts of quartz sand left behind by the rivers that once drained into the ancient sea.
There's a saying in the oil patch that says something to the effect that the workers are just cleaning up the largest natural oil spill.
@@StinkPickle4000 We have a saying, if mother earth placed it there and you have to dig to get to it, just leave it be.
Oil sand exploration is actually a good thing as for an environmental view point. Oil sands are a natural disaster that are being cleaned up. There are many communities that didn't have safe drinking water before being explored. But environmentalists will never see or admit this
@@benrakus4912 Yeah we all heard of those inhumane provincial governments that "refused" to expand their utilities to these communities. Shameful in every way, hope those politicians go to prison for that. But your safety concern are irrelevant as the first nations have always known of these ever since they set foot in the area (17,000-11,000 years ago). Which they used the bitumen from seeps to waterproof their birch bark canoes and for certain tools. And they knew better than anyone to settle near there. So the only reason why many natives where settle in those areas was the government in place that put them there. Ever since the planet has evolved it was never a disaster but a natural occurrence, as they are prevalent all over the world. And just by surprise!!! It was an issue here in Alberta. If you want to be logic about it, firstly you relocate the dwellers or secondly you supply them the same services that are offered in cities.
For Canada to leave its oil in the ground is a smart idea. We'll have oil long after other nations have been drained dry.
That's when war comes
@@Yo-ItsYo but how are you gonna invade Canada if you don't have gas for warships to ferry your troops there?
@@kaleidoscope3234 Probably invade before it's out. Most smart people will solve a problem before it's too late.
If we (Canada) stop giving other countries like America oil when we (in the future have some of the only oil left) they will just slap down our military and take it
@@kaleidoscope3234 the biggest threat in that situation is just south of the border then. No ships needed.
The thing is that Canadian oil is simply more eco-friendly than many other countries (such as Saudi Arabia). The regulations for environmental protection and permissible levels of pollutants are much much MUCH stricter in Canada. Not only that but the way workers are treated and the number of human-rights violations are much better in Canada. Saying let the economies who are dependent on oil continue to produce it neglects this very important fact. Voting with your dollar doesn't only apply to if your coffee is fair-trade or not, but your countries oil as well.
Saying that Canadian oil is more eco-friendly than countries like Saudi Arabia is an absolute lie. Our oil is far more damaging to the environment than any other producing country except Venezuela. These are proven facts.
LA: Why canada does not exploit it's gigantic oil reserve
Canada: Sorry
What I'll never understand is why Environmentalists & Oil Industry Experts don't work TOGETHER on revolutionizing our oil industry with new, cleaner, technology so we can move FORWARD as a cleaner & more profitable country! It kills me that extremists are so dead-set on winning a power struggle than working towards what benefits EVERYONE the most.
One reason it wouldnt be good to heavily invest in upping our oil export infrastructure, was stated in the clip. It costs us more to produce due to our wages and safety standards so yes while there is a shortage we might make money but if or more likely WHEN that demand goes away (who knows how short a time that would be) we might then be left holding big reserves that no one wants to pay for since they can get it cheaper elsewhere thus leaving us selling at a loss. A similar situation to the cocoa bean over producing that happened years back.
Sorry I’m late again and missed your 10 year anniversary on RUclips 🎉( got covid but recovered 👍🏻 ) back to the topic,
Canada is nice and happy paradise but I don’t think Canadian government is that much crazy about oil like other countries due to its complexity and general understanding.
Great video 👍🏻
Don’t worry if they don’t have oil , they have millions of gallons of maple 🍁 syrup 😂😋
Ah, hope you’re feeling better Arnav. And thank you for watching as always!
@@LogicallyAnswered thanks 🙏
@A Z sorry if I caused a confusion But said “ I think “ I still don’t know a lot that’s why I watched hari’s video
What I hope is that when we expand exploitation we'll use a less polluting process than the one in use now (CLark). It wastes a lot of water and energy. Our oil is also more difficult to process and we sell it somewhat cheaper (I think $5-$10 a barrel) because of that. Indeed most oil goes to the US refineries all located in the South where the Gulf of Mexico is next door.. What we need in Canada I think is more processing of oil into other useful products (eg composites, plastics...). Remember too that 5 to 8 years ago the market was flooded with oil. Another point about pipelines is that they would sell better to environmentalists if oil pipelines were built like gas pipelines... particularly in sensitive areas. When eastern provinces opposed the proposition to reverse the direction of flow in the existing pipelines, a big reason was that not enough precautionary measures were taken to prevent leaks. ANd last we do have a lot of gas... a pipeline was recently non approved because where it would end in QUébec was up a river (the Saguenay) where 3 to 5 LNG ships would have sailed daily.... And right at the mouth of the Saguenay river is a reproducing and feeding area for whales. Heavy impacts expected. Alternative solution that would have been accepted would have been to add extra 200 kilometers to the gas pipeline up to a port located on the ocean (eg Forestville or Baie Comeau).
Let's hope for the best for everyone on earth with more sensitive policies on energy conservation, transportation and elimination of very low quality products that consume energy and become trash within minutes.
We are waiting for all other countries to run out of oil, then we will sell it with exclusive price and get super riiiich!
You completely missed the legal obligations and barriers between Canada (often represented through the Province) and First Nations regarding Duty to Consult and ensuring environmental damage does not infringe upon traditional livelihoods activities protected under Treaty and / or Section 35 of the Constitution.
First Nations aren’t “environmentalists”: they are sovereign Nations that have been neglected or pushed out of industrial economic development decision-making forums, and hence resist when projects like oil sands development or pipelines will likely benefit Canada and international oil corporations while they endure the harm caused in their traditional territories.
Oh this comment section should be reasonable and balanced 😆
Yes
Hahaha we’ll see
@@LogicallyAnswered as an albertan living in oil sand country Alberta, I wish you luck sir 🫡
Lmao, Canada's can't even supply its own east with oil, they rely on middle eastern tankers to do it.
It makes way more sense to just build pipelines west and south and keep importing oil east
@@Eric00700 giving any money to dictators makes 0 sense
@@zybon777 we’d be shipping more oil going west and south which would lower there market share, oil is a commodity.
Why burn mine... when I can burn yours?
@@xylo5750 Actually we do have a pipeline from Alberta to Ontario, the Enbridge line 6 pipeline. Currently all of Canada's refineries west of Quebec City use primarily Canadian oil. It is only Atlantic Canada and parts of Quebec that rely on imports
I think one of the main factors is also the treaties signed to most of the land making it a lot more difficult.
Very Colonial comment.
You do understand that not all land in Canada is set up for exploitation by Europeans?
I’m talking about the treaties signed with the indigenous people. They’ve already been broken multiple times, but nowadays it’s harder to get away with.
The lands that are owned by native Indians in BC will not allow the pipelines to be built on their soil stopping it dead in its water. The Keystone pipeline from Alberta to the US is delayed until there is a Republican president to continue the push. So the only hope Canada has to send more oil to the US is the Keystone Pipeline. But then they still have the environmentalist blocking them. So essentially nothing will progress.
That's not stopping Trans Mountain at all. The RCMP just show up and arrest protesters regardless if they're the treaty region that owns the land. The Federal government, regardless of who's at the helm, has always steamrolled the rights of indigenous people for financial gains. Even the Liberals, who like to talk a great game about reconciliation yet do nothing to achieve that reconciliation.
Canada belongs to the native people first and foremost, their interests should come first, if they don't want someone to build a pipe line through the land they have left, then let them be. Like anyone else, I'd want the economy to prosper but it doesn't have to at the expense of the peoples wellbeing and environmental health.
Good to see people recording audio with laptop microphones.
It really good for Canada to keep most of its oil for the future when the big players will run out.
By the time everyone else is out we'll have figured out offshore and Antarctic drilling more
The biggest challenge we face are geo-political challenges. Being someone who just graduated a petroleum engineering program here I can say I've spent a lot of time studying this. One major issue is our differences with Quebec, we have wanted to extend a pipeline from Ontario to Quebec so we can reach the eastern shoreline but Quebec is strictly against this for "Environmental reasons", if you know anything about Canadian pipelines we have the worlds highest standards for pipelines and just highest standards in our oil and gas industry alone. Quebec has criticized the expansion we called "Energy East", but yet they would still rather import over 100,000 barrels of oil a day down the major St. Lawerence River endangering sea life and not only that but they're buying oil from places like Saudi which is well known that they're working standards aren't necessarily the best.
As for the Oil Sands being horrible for the environment, yeah sure the extraction process isn't the prettiest thing but you didn't mention any of the remediation or reclamation standards we go through to literally return these top harvested lands to exactly the way they were before the sands were harvested. Lots of pictures and research on that but you literally can't tell a difference after all is said and done.
Funny thing about the Quebec politicians.They have no "social licence" for an oil pipeline through Quebec but they have no issues or qualms about receiving money from transfer payments that is created by that oil wealth. Quebec used to get the majority of the feedstock for their refineries from a oil pipeline that comes from the Hudson River in New York. That pipeline is still being kept wet as an emergency supply alternative. Quebec now gets crude oil by pipeline from upgraders in Alberta and oil tanker crude from Algeria and Libya mostly.
@@don-cw1yz Right it's like they claim they have no agenda for it but have no problem taking that $13 Billion a year that comes straight from that industry practically
@@LodusGaming we pay more in federal taxes than wen receive from this "transfer payment" while the federal gives absolutely nothing for Hydro-Québec of course we receive a "compensation"